Apartment buyers using an LLC might get a tax break — if they can prove safety concerns

New Yorkers who buy property under an LLC for security reasons might be eligible for a tax break. The city’s Department of Finance restricts condo and co-op buyers who use an LLC from getting a partial tax abatement. But a proposed amendment would let them apply for a waiver if they can prove they used a corporate name for security reasons, the Wall Street Journal reported. The change was a suggestion from the law enforcement […]

source https://therealdeal.com/2019/01/30/apartment-buyers-using-an-llc-might-get-a-tax-break-if-they-can-prove-safety-concerns/