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Delaware Tax Law Questions & Answers
1 Answer | Asked in Tax Law for Delaware on
Q: My mother passed away and left me and a sibling a home we live in md do we have to pay taxes when we sell the house
D. Mathew Blackburn
D. Mathew Blackburn answered on Nov 20, 2019

You'll have long term capital gains (Carryover holding period from the deceased) equal to the sales amount less the fair market value on the date of death (due to stepped up basis) (or alternate valuation date if that was used), less any costs of sale.

It's a capital asset with no...
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1 Answer | Asked in Real Estate Law, Tax Law and Business Law for Delaware on
Q: What's the best state to open a stock/real estate holding company with a nonresident alien and a legal resident owner
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jun 25, 2019

Before you start looking for types of "stock/real estate holding companies" you should call an Immigration lawyer and ask them if what you are trying to do is possible.

1 Answer | Asked in Tax Law for Delaware on
Q: Can I use the tax treaty between the US and Portugal to pay taxes only in my home country?

I recently incorporated a LLC company in Delaware. I'm a Portuguese citizen living in Portugal. The products we sell are manufactured in the USA by a third party manufacturer, then shipped to a USA third party fulfillment center, and from there shipped to our customers. I don't own any warehouses,... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 24, 2019

Free practical advice offered for the last 41 years to people starting or operating their own small businesses:

The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small...
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1 Answer | Asked in Business Formation, Mergers & Acquisitions and Tax Law for Delaware on
Q: How can I optimize a sale of business assets when the business is no longer in good standing?

In 2015, friends and I started a business. We allocated shares, and set up a vesting schedule. In 2016, we decided to allow the business license (Delaware) to lapse and operate with funds from an existing LLC business I own, however, the other partners do not benefit from the LLC business.... Read more »

Jonathan R. Roth
Jonathan R. Roth answered on Aug 14, 2017

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... Read more »

1 Answer | Asked in Tax Law for Delaware on
Q: If you're renting a home, who is responsible for paying the taxes on said property, the renter or the owner?
Adam Studnicki
Adam Studnicki answered on Jul 18, 2015

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.

2 Answers | Asked in Tax Law for Delaware on
Q: how long does it take to incorporate a company in the

Thinking of registering a limited liability company in the usa, would basically pay taxes in the usa

Charles Snyderman
Charles Snyderman answered on Jul 27, 2014

It takes as little as one day in Delaware

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1 Answer | Asked in Tax Law for Delaware on
Q: If you own your house but it is in a MHP, can the gov take your house if you owe property taxes?
Charles Snyderman
Charles Snyderman answered on Jun 26, 2014

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.

1 Answer | Asked in Tax Law for Delaware on
Q: What is the best way

Hello i have a business that i started in the middle of 2012. i had my x girlfriend set up a merchant account and it was deposited to the business account. we broke up and i paid the business tax on 2012 under my name and know she is harassing me. What is the best way because she got a letter from... Read more »

Charles Snyderman
Charles Snyderman answered on May 12, 2014

Please explain: What is the best way to do what?

1 Answer | Asked in Tax Law for Delaware on
Q: How much can you Gift Tax to a relative and how many times a year can you do that!
Christopher M. Larson
Christopher M. Larson answered on Dec 27, 2011

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... Read more »

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