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International Trust and Estate Planning 2021: Foreign Investment in U.S. Real Estate: Tax Concerns When Acquiring or Disposing of Ownership Interests

Content Provider
American Law Institute CLE
Product
CLE
Run Time
88 Minutes
Recording Date
12/03/2021
Presenter(s)
Cecilia Hassan, Michael Karlin
Learning Method
On-Demand Training
Practice Area
International Law, Estate Planning and Elder Law, Taxation

Price $259.00

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Description

Foreign Investment in U.S. Real Estate: Tax Concerns When Acquiring or Disposing of Ownership Interests The U.S. federal tax rules governing investment in U.S. real estate by foreign individuals and companies are intricate. FIRPTA taxes foreign individuals and corporations on their dispositions (transfers, sales, gifts, exchanges) of U.S. real property interests, and in addition generally imposes reporting and withholding. Tax treatment varies with the form of ownership. This presentation will cover an overview of the tax rules that apply to foreign investors in US real property, a discussion of the investment structure alternatives and their tax consequences, and a summary of the tax reporting obligations and tax filings for non-US owners of US real property, including the FIRPTA compliance that comes into play on dispositions (gifts, sales, dissolutions, and domestication of corporations) of US real property.

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.00General12/31/2022
AlaskaApproved1.50GeneralOn-going
ArizonaApproved1.25GeneralOn-going
ArkansasApproved1.25GeneralOn-going
CaliforniaApproved1.25Participatory12/02/2026
ColoradoApproved2.00General12/31/2024
ConnecticutApproved1.50GeneralOn-going
DelawareApproved1.50General12/02/2023
FloridaApproved2.00General11/30/2023
GeorgiaApproved1.50General12/31/2022
HawaiiApproved1.25GeneralOn-going
IdahoApproved1.25General12/02/2026
IllinoisApproved1.25General04/10/2024
IndianaApproved1.00General05/26/2023
IowaApproved1.25General12/02/2022
KansasApproved1.50General05/01/2023
LouisianaApproved1.40General04/10/2023
MaineApproved1.50General05/19/2024
MinnesotaApproved1.25General05/03/2024
MississippiApproved1.50General04/10/2023
MissouriApproved1.80GeneralOn-going
MontanaApproved1.50General12/02/2024
NebraskaApproved1.46General05/22/2023
NevadaApproved1.00General12/31/2025
New HampshireApproved1.50General12/02/2024
New JerseyApproved1.50GeneralOn-going
New MexicoApproved1.50General12/02/2026
New YorkApproved1.50SkillsOn-going
North CarolinaApproved1.25General12/31/2022
North DakotaApproved1.50General12/02/2024
OhioApproved1.25General12/31/2022
OklahomaApproved1.50General04/10/2023
OregonApproved1.50General12/02/2024
PennsylvaniaApproved1.00General04/10/2024
Puerto RicoApproved1.47General06/05/2023
Rhode IslandApproved1.50General06/30/2023
South CarolinaApproved1.46General12/31/2022
TennesseeApproved1.47General04/10/2023
TexasApproved1.25General04/10/2023
UtahPending State Response0.00
VermontApproved1.25GeneralOn-going
VirginiaPending State Response0.00
WashingtonApproved1.25General12/02/2026
West VirginiaApproved1.76GeneralOn-going
WisconsinApproved1.50GeneralOn-going
WyomingPending State Response0.00