Question

TimberCut Corporation transferred all the rights to timber growing on its land located in Spokane County, Washington, to its wholly owned subsidiary, PineCo. The Department of Revenue has imposed a real estate excise tax on TimberCut because PineCo. transferred $ 1 million cash to TimberCut. Is TimberCut’s transfer a sale of timber land subject to the taxes imposed?


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  • CreatedOctober 30, 2015
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