All Forum Posts by: Donald Price

Hi Bob,

Thanks for checking in. Basically, looking for stories about how investors have used the 1031 Exchange tool to benefit not only themselves but perhaps, help the community by investing in bigger projects an creating jobs, etc. The NAR is hoping to educate lawmakers and their staff about 1031s. It is not a tax loophole for the wealthy; it is a tax tool that has brought immeasurable economic benefit to communities throughout the U.S.

Check out the following link to see more of what they are looking for. 

Thanks again... 

1031 Like-Kind Exchange Member Stories Portal

Recent federal proposals to repeal or limit the 1031 Like-kind Exchange could severely impact the real estate industry and investment in communities across the country. The National Association of REALTORS® needs stories to help educate lawmakers and their staffs about the economic benefits of 1031s. Put a human face on this critical real estate tool and tell your story at NAR's new 1031 Like-Kind Exchange Member Stories Portal. Thank you!

@Jochy Perez, I think @Edward B. has it "mostly" right ... If you have a physical presence in MA then yes, you will have to register with the MA Sec. of State office, pay the $500 annual fee AND file an annual income tax return with the MA D.O.R. If you don't have a "physical presence" in the state of MA then you only have to file an out of state income tax return with the MA D.O.R.

The big question is: Does owning real estate in MA constitute a "physical presence"? 

Give the MA Sec. of State office a call and find out. Here is a link to the phone number.

http://www.sec.state.ma.us/cis/ciscig/a/a19a22.htm...  Let us know what you hear.

Best..