D.C. Mun. Regs. tit. 9, r. 9-523

Current through Register Vol. 71, No. 39, September 27, 2024

Rule 9-523 - MISCELLANEOUS

523.1

A transfer of a controlling interest from one (1) entity to another in which there is no change in ultimate ownership interest shall not be subject to the Recordation of Economic Interests Act.

523.2

New stock certificates issued to owners of record of a corporation based solely on a change in the name of the corporation shall not be subject to the recordation tax.

523.3

The transfer of a controlling interest by a corporation to its wholly-owned subsidiary, from a wholly-owned subsidiary to its parent, or from one wholly- owned subsidiary to another shall be considered a change of identity and not subject to the Recordation of Economic Interests Act.

523.4

The exclusion of a transfer from recordation under the Recordation of Economic Interests Act shall not prevent the same transfer from being subject to taxation under any other Act or rule of law.

D.C. Mun. Regs. tit. 9, r. 9-523

Final Rulemaking published at 36 DCR 8653 (December 29, 1989); as amended by Final Rulemaking published at 61 DCR 4717 (May 9, 2014)

Authority: Section 317 of the District of Columbia Deed Recordation Tax Act of 1962, approved March 2, 1962, as amended (76 Stat. 11; D.C. Official Code § 42-1117 (2012 Repl.)); Section 2(c)(3) of the District of Columbia Recordation of Economic Interests in Real Property Tax Amendment Act of 1989, effective September 9, 1989 (D.C. Law 8-20; 36 DCR 4564 (June 30, 1989)); Section 201(a) of the 2005 District of Columbia Omnibus Authorization Act , approved October 16, 2006 (120 Stat. 2019, Pub.L. 109-356; D.C. Official Code § 1-102.24 d (2012 Repl.)); and the Office of the Chief Financial Officer Financial Management and Control Order No. 00-5, effective June 7, 2000.