The amount of taxable consideration for a taxable transfer of real estate or an interest in real estate, other than a transfer to which Rev 802.02(c) applies, shall, absent proof to the contrary, be presumed to be the fair market value of the real estate transferred when the transfer is:

1. (a) Between either an entity and an owner of the entity; or
2. (b) Between 2 entities controlled by the same owners.

Source. #8579, eff 3-8-06; ss by #10665, eff 9-9-14; ss by #12495, eff 3-21-18; ss by 14071, eff 9-10-24