What can be done to minimize real estate transfer taxes (RETT) on hospitality acquisitions? Many believe that these taxes are a fixed cost and do not realize that they can often be minimized through a program of careful, proactive and prudent planning.
Paradigm’s Hospitality Group can assist companies to minimize the RETT through a sound objective methodology that has prevailed against the scrutiny of government authorities. This methodology includes ensuring that the transfer tax base includes only those amounts that are subject to the tax and nothing more. Paradigm’s Hospitality Group has already assisted clients to obtain transfer tax refunds amounting to several hundred thousand dollars from high tax states.
Some recent examples of tax refunds obtained by our clients include:
Resort Hotel: $262,000
Full Service Hotel: $250,000
Full Service Hotel: $107,000
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