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Updated almost 6 years ago on . Most recent reply

User Stats

3
Posts
0
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Agnes Fox
  • Rental Property Investor
  • Philadelphia
0
Votes |
3
Posts

DOuble Taxation in PA?

Agnes Fox
  • Rental Property Investor
  • Philadelphia
Posted

Hello everyone,

I am a wholesaler in PA. Just spoke to a title company and the attorney there told me that in PA I am a subject to paying taxes twice. First transfer tax between me and the seller, then the second time between me and a buyer. Even if I am just assigning a contract. He said that the only way to avoid it would be for me to cancel an assignment contract, and create a new contract between the seller and a buyer. When I asked how in this case I get paid he said "I don't know. If you get paid a referral fee then you are a subject to practicing without RE license penalties, even jail time..." Seriously??? So what does it mean??? I can't do assignments in PA? 

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