Monday, December 25, 2006

Real estate withholding law changes for 2007

Real estate withholding law changes for 2007: "Previously, where withholding was required, sellers had to withhold three and one-third percent of the property’s sale price. Now, sellers may choose between the original withholding method, or elect an alternate withholding amount based on applying the maximum tax rate to the seller's estimated gain."

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