A Georgia Receiving Order, also known as a Like-kind Exchange, is a legal arrangement that allows individuals or businesses to postpone the payment of taxes on the capital gains from the sale of real estate or other valuable assets. It is authorized by Section 1031 of the Internal Revenue Code and is commonly used as a strategy to defer taxes and maintain the value of one's investments. The primary purpose of a Georgia Receiving Order is to provide taxpayers with the opportunity to reinvest the proceeds from the sale of property into a similar or "like-kind" property without recognizing any capital gains for tax purposes. This allows investors to defer paying taxes until they eventually sell the replacement property without engaging in a taxable transaction. There are several types of Georgia Receiving Orders, each serving a different purpose: 1. Delayed Exchange: This is the most common type of Georgia Receiving Order where the taxpayer sells their property and identifies replacement properties within 45 days. They have 180 days from the sale date to complete the acquisition of one or more of the identified properties. The intermediary holds the funds during the exchange process until the purchase is complete. 2. Simultaneous Exchange: In this type of exchange, the taxpayer simultaneously sells their property and acquires the replacement property on the same day. All parties, including the buyer, seller, and intermediary, must coordinate this exchange to occur at the same time. 3. Reverse Exchange: This exchange type allows the taxpayer to acquire the replacement property before selling their own property. However, it requires a qualified intermediary to hold title to one of the properties until the original property is sold. 4. Construction or Improvement Exchange: Also known as a "build-to-suit" exchange, this type of exchange allows the taxpayer to use the exchange funds to make improvements or construct a replacement property. Specific guidelines and timelines must be followed to comply with the provisions of a Georgia Receiving Order. Overall, a Georgia Receiving Order offers investors a valuable tool to defer capital gains taxes while allowing them to reinvest in similar properties. It is essential to consult with a tax professional or qualified intermediary to ensure compliance with all the requirements and regulations surrounding these exchanges.
Georgia Receiving Order
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Anyone who fears imminent acts of family violence or stalking can go to the Superior Court where the offender resides and file a petition for protective order. If the offender's residence in unknown, the petition can be filed in the court where any acts of violence or stalking occurred in the past.
Included in the state of emergency are Burke, Columbia, Emanuel, Glascock, Jefferson, Jenkins, Lincoln, McDuffie, Richmond, Screven, Taliaferro, Warren, Washington, and Wilkes Counties.
Based on the current available data, Atlanta is in Phase 1. This applies to all Phases and recommended actions.
A TPO is usually in effect for two to three weeks while a court hearing is scheduled. The purpose of the hearing is to learn about the situation and determine if the order should be dropped or extended for up to 12 months.
Temporary orders last up to 30 days, or until your court hearing if it is being heard in another county in the same circuit. Orders can be extended beyond 30 days upon agreement by both parties.
A final protective order typically lasts up to one year, but the victim can file a motion to extend the order to up to three years or permanently. The standard for a protective order based on stalking is a preponderance of the evidence.
If you want to dismiss your Order, call your Legal Advocate to discuss your options and review a safety plan. If after talking with your Legal Advocate you want to request the order be dismissed or modified, you will sign a motion for dismissal that will be presented to the Judge that handled your case.
Georgia currently maintains no shelter in place orders, and the Public Health State of Emergency has expired for the State of Georgia.
The order, which goes into effect on Saturday, April 16, was declared due to ongoing severe disruptions to the state's supply chain and economy brought on by the COVID-19 pandemic.
Brian Kemp has declared a State of Emergency amid continued stresses to the state's supply chain. Gov. Kemp's Executive Order noted that while Georgia successfully mitigated public health impacts related to the COVID-19 pandemic, the state's supply chain has not fully recovered.
