Multibillion-dollar property sales can be structured to allow buyers and sellers to avoid paying the transfer taxes that support schools and other programs in Nevada.
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Complex transactions without transfer taxes frequently cite an exemption allowed under state law for entities that transfer property to a subsidiary.
Triple Five’s nearly 30 acres along Las Vegas’ famed resort corridor are under new ownership, but the deal likely wasn’t what the developer envisioned.
Target announced plans for the store in 2018. The outpost is located where the Smith & Wollensky steakhouse building formerly stood.