The umbrella partnership real estate investment trust (UPREIT) structure has been a cornerstone of the modern REIT industry since its introduction in 1992. For property owners, the UPREIT structure provides a path to...more
New York’s personal income tax law, like that of other states, conforms with the federal system of income taxation. The reason typically given for such conformity is to simplify tax return preparation, improve compliance and...more
In the senior living area, a taxpayer that is selling a community may look to avoid recognizing gain on the sale by entering into a Section 1031 like-kind exchange with respect to the real estate. The tax rules generally...more