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n September/OctOber 2010 37 Over the years, the limited liabiliit company (LLC) has become the preferred entity for holding and conveying real estate. In addition to the LLC’s advantageous combination of partnership and corporation characterissticssuch as federal pass-through taxation and limited liability—the LLC offers significant state tax advantages for those who use an LLC to convey real estate. Under the laws of many states, sellers have been able to avoid state real estate transfer taxes...