Division of TaxationThe Controlling Interest Transfer Tax (CITT) is imposed on the Seller. The CITT is a Graduated Percent Fee on the transfer of a controlling interest in an entity that directly or indirectly owns certain real property. The CITT is only imposed if the real property is classified as "4A Commercial" and if the consideration or other valuation of the real property is greater than $1,000,000. The seller is exempt from the CITT if they pay the additional fee on certain transfers of real property over $1,000,000. More information on exemptions can be found in the instructions to Form CITT-1 .
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