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Commercial Real Estate Investing
HomeForumsCommercial Real Estate InvestingTransferring Members of an LLC - Tax Consquences
Salvatore Trapani's profile image
Salvatore Trapani's profile image
Salvatore Trapani
  • Realtor
  • from Bayside, NY
  • Member since Jun 25, 2014
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Salvatore Trapani's profile image
Salvatore Trapani's profile image
Salvatore Trapani
  • Realtor
  • from Bayside, NY
  • Member since Jun 25, 2014
Connect
Salvatore Trapani
  • Realtor
  • Bayside, NY
9
Votes |
19
Posts
Commercial Real Estate Investing

Transferring Members of an LLC - Tax Consquences

Salvatore Trapani
  • Realtor
  • Bayside, NY
Posted Oct 30 2019, 07:03

I'm currently managing a commercial (15-unit residential) building in the Bronx, NY that is held under an LLC by a 100% sole-member.

The member is looking to fully transfer the corp. stake to a family member, making that person 100% sole-member.

Ownership of the building remains the same (as the LLC), but it's members are changing.

Is there a tax consequence involved? Is this still considered a sale with required transfer taxes?

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