Delaware Tax Law Questions & Answers

Q: How can I optimize a sale of business assets when the business is no longer in good standing?

1 Answer | Asked in Business Formation, Mergers & Acquisitions and Tax Law for Delaware on
Answered on Aug 14, 2017
Jonathan R. Roth's answer
More information is needed to give you more detailed advice, but you have two basic options, revive the DE entity and sell the business or document the transfer of the business to the LLC and have it sell the business. The devil will be in the details. I would recommend you sell the assets of the business as opposed to the entity if you use the DE entity and liquidate it for capital gains purposes. Depending on the facts, there may be more options. I would contact a business attorney to...

Q: If you're renting a home, who is responsible for paying the taxes on said property, the renter or the owner?

1 Answer | Asked in Tax Law for Delaware on
Answered on Jul 18, 2015
Adam Studnicki's answer
I don't practice in Delaware but, generally speaking, the owner is responsible for property taxes but potentially could shift that to the renter under the terms of the lease. A DE lawyer can verify.

Q: how long does it take to incorporate a company in the usa...llc

2 Answers | Asked in Tax Law for Delaware on
Answered on Jul 27, 2014
Charles Snyderman's answer
It takes as little as one day in Delaware

Q: If you own your house but it is in a MHP, can the gov take your house if you owe property taxes?

1 Answer | Asked in Tax Law for Delaware on
Answered on Jun 26, 2014
Charles Snyderman's answer
I assume you mean can the government force a public sale of your house if you fail to pay property taxes. The answer is yes.

Q: What is the best way

1 Answer | Asked in Tax Law for Delaware on
Answered on May 12, 2014
Charles Snyderman's answer
Please explain: What is the best way to do what?

Q: How much can you Gift Tax to a relative and how many times a year can you do that!

1 Answer | Asked in Tax Law for Delaware on
Answered on Dec 27, 2011
Christopher M. Larson's answer
You can gift up to $13,000 to each person per year without it counting against your lifetime limit. If you are married, you can make an election on your tax return and increase that amount to $26,000 per person, per year. But unless you have a large estate, this will not mean you are going to pay gift taxes. But either way, only the portion that exceeds this annual limit will count against your lifetime total.

The recipient will not be taxed on a gift, no matter the size....

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