Do you have a property tax expert on your business acquisition team?
As many companies remain aggressive in their acquisition of other companies and real estate, it is important to have a property tax expert on your acquisition team. Capturing the right data from the company you acquire can help save thousands, or tens of thousands, in property taxes and penalties. For example, in California, BOE Forms BOE 100-B and BOE 502-AH are related to Change of Ownership of Legal Entities and Change of Ownership when acquiring real estate. Both these forms have substantial penalties if not file timely.
If you would like more information on how to handle these change of ownership issues, please contact us.