When it comes to conducting a 1031 exchange, the process and rules are generally consistent across the United States, including Georgia. The uniqueness doesn't necessarily come from differing laws or regulations specific to Georgia, as the Internal Revenue Code (IRC) Section 1031, which governs these exchanges, applies uniformly across all states.
However, what can make a 1031 exchange in Georgia unique might be more about the real estate market conditions and investment opportunities specific to the state. For example, Georgia, particularly areas like Atlanta, has been experiencing significant growth in both residential and commercial real estate markets. This growth can provide unique opportunities for investors looking to reinvest in a dynamic and expanding market.
Additionally, Georgia's diverse economy, which includes sectors like technology, agriculture, and manufacturing, can offer a variety of property types for investment. This diversity allows for potentially beneficial exchanges that might not be as readily available in other regions.
The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent).
A tax credit is allowed to Georgia residents for income taxes paid to other states.
Atlanta Deferred Exchange Inc. (ADE), based in Georgia, positions itself as a full-service expert in 1031 exchanges. The company emphasizes its extensive experience, having managed thousands of transactions, including complex ones involving REITs and sophisticated investors across the U.S. ADE offers a "Triple Protection" security program for client funds, which includes segregated accounts, required authorization for fund movements, and an optional Qualified Escrow Agreement. They use banks with strong ratings and FDIC insurance up to $250,000 for added security.ADE is also committed to education, providing accredited courses to CPAs, attorneys, brokers, and investors through various professional bodies in Georgia. They have produced a comprehensive exchange manual and numerous articles on tax-deferred exchanges.Their service includes innovative and customized strategies to meet specific client needs, responsive communication, and a proprietary process that ensures clients are reminded of critical deadlines and receive detailed reports on their transactions. However, they are not members of the Federation of Exchange Accommodators.
City National Bank, headquartered in California, has been operating since 1954 with a focus on prioritizing people and communities. The company emphasizes the importance of impact on real lives over mere financial success. They offer various services, tools, and technology that reflect their values, which are showcased through stories and an evolving mural on their website. However, they are not a member of the Federation of Exchange Accommodators.
