No, there is no income tax payable in transferring assets between spouses in a divorce. The only potential taxes that might be incurred would be capital gains taxes if an asset is SOLD in connection with the division of assets, and there is a gain inherent in that asset. If that is going to be the case, then those tax consequences should be taken into account when the asset is being valued. There are some specific types of assets (stock options, for example) that have particular tax questions associated with them, as well.