News & Publications

Are you looking to transfer property in the Philadelphia area? You should be aware that typically, there are both state and local transfer taxes associated with this type of transaction, in addition to recording fees. Effective October 1, 2018, the transfer tax for the city of Philadelphia is 3.278%, with an additional state of Pennsylvania tax of 1%, for a total of 4.278%. This transfer tax is traditionally split between the buyer and the seller (with [...]

That investment, both financial and emotional, can be shaken when a developer proposes to build a residential or mixed-use commercial development on top of the course.  Often, when rumors that a golf course is being redeveloped begin to swirl, the first reaction is "they can't do that!"  Whether the developer can or cannot change the land use of a golf course depends on what type of golf course it is. Golf course construction surged in [...]

The Treasury Department and the Internal Revenue Service (IRS) have provided additional guidance to taxpayers regarding various aspects of the Opportunity Zone program1, releasing a second round of proposed regulations on April 17, 2019. The proposed regulations respond to a variety of concerns raised by stakeholders in public comments and also update portions of previously proposed regulations released in October 2018. The proposed regulations clarify some of the substantive issues involving qualified opportunity funds (QOFs), [...]