Marc Landis is quoted by Inman Property Portfolio: 1031 like-kind exchanges: On the chopping block, or here to stay?
02/21/2021"If section 1031 is repealed, state and local jurisdictions which impose real estate transfer taxes on transactions will see a decline in tax revenues to accompany the decline in transactions," Marc Landis, managing partner of Phillips Nizer LLP, said in a statement to Inman. "Some of the states that could face a severe impact include New York, New Jersey, Connecticut, Delaware, Michigan, New Hampshire, Pennsylvania, Florida and Washington; municipalities such as New York City, Chicago, Los Angeles, San Francisco, Philadephia and Pittsburgh would also take a hit."