John Mercier - Greater Sarasota
John Mercier

NAR Supports Pending FIRPTA Legislation


FIRPTAWhile NAR has existing policy on immigration reform that touches on the principles that should ideally govern the taxation of foreign citizens investing in U.S. real estate, no policy explicitly mentions the Foreign Investment in Real Property Tax Act (FIRTPA). The question of whether NAR should support pending legislation designed to attract more foreign investment to the U.S. commercial real estate market by easing certain restrictions under the existing FIRPTA rules was addressed earlier this year by a working group comprised of members from NAR’s Federal Taxation Committee, Commercial Committee, and Global Businesses & Alliance Committee. READ MORE


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