Often times the taxpayers and the Department of Revenue end up settling during the appeal process.

You are taxed as regular business, capital gains doesn't apply in flipping, it is a simple tax in, tax out, net tax, pay.

The story you hear about California is true for California residents, but not true for the taxpayer that lives in another state but invests in CA. 

A true reverse 1031 exchange would mean that the taxpayer would acquire and receive title to like-kind replacement property and then subsequently would sell and convey title to the relinquished property.

Why don't the council members build more homeless shelters, soup kitchens and provide a nice weekly allowance along with the food-stamps and other taxpayer-funded benefits? 

However, if the syndicator has found a suitable replacement property then it's a slam dunk that the LP or LLC do an exchange since any tax paying entity is allowed that tool.  

750 million of that cost is coming from the great tax paying citizens of Clark county.I love sports.

Winning bidders must provide identification name, address, taxpayer number, and photo ID and/or LLC.Payment must be paid within a reasonable time.

The proceeds from the redemption sale are then applied toward property acquisition costs, and the remaining funds are applied against the taxpayer’s outstanding tax liability.

According to this report, the debt would cost each resident of California $33,000 or each taxpayer $74,000And then there's the unfunded pension debt...the elephant in the room that no one talks about:https://calmatters.org/comment...And before you boast too much about California's budget surplus, let's not forget where $27 BILLION of it came from.....the Federal Govt's Covid bail-out.