Dishin' Dirt with Gary Pickren

Dishin' Dirt on Non-Resident Out of State Seller Withholding Taxes.

December 02, 2021 Gary Pickren Season 2 Episode 55
Dishin' Dirt with Gary Pickren
Dishin' Dirt on Non-Resident Out of State Seller Withholding Taxes.
Show Notes

When a non-resident, Out of State Seller sells their property, it often triggers a requirement for the closing attorney to collect and hold possible state capital gain taxes.  Understanding what the law is pertaining to withholding taxes helps show your client your level of professionalism and knowledge.  In this episode you will learn what is a non-resident seller, how much money is collected from the non-resident seller at closing, how is the amount  calculated, what are capital gains and what are the exceptions to the withholding rules.

Also, another installment of As Gary Sees It on the Oregon law suit on "Love Letters" and Gary's Good News Only!

I-295 form
https://dor.sc.gov/forms-site/Forms/I295.pdf

I-290 form
https://dor.sc.gov/forms-site/Forms/I290.pdf


Enjoy!
Gary