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FIRPTA
O FIRPTA tax, (Foreign Investment in Real Property Tax Act), was a law created in 1980 with the aim of enforcing the payment of taxes on gains made by foreign investors (non-residents) upon sale of their property. In other words, any foreign person who owns real estate in the US will be subject to this law upon sale of the property. The withholding of the IRS (US Federal Revenue), through the FIRPTA tax, is 10% of the value realized by the seller, even if there is a loss on the sale of the property.
It is important to note that this amount must be withheld and remitted directly to the US Tax Authorities at the time of closing the contract. If the foreign investor demonstrates that he is up to date with his taxes (income tax, capital gains tax, etc…). The US tax authorities will refund the withheld amount.
This tax was created because in the past many foreigners sold their properties and left the country without paying capital gains tax on the sale, so it is better to plan ahead with our experts before selling the property.
It is important to have the qualified professionals at America Expert who can instruct you in detail regarding the FIRPTA tax, as there are ways to facilitate transactions that fall within the scope of this law.
O FIRPTA tax may, in specific cases, be deferred if you sell the property to then buy another, fulfilling the requirements that qualify as an “exchange” under US tax law.
Contact us today to file your US taxes properly and legally, without having to worry about filing or issuing documents. Leave the work to us!
sales tax
The famous sales tax (tax imposed on the sale of goods and services) is a mandatory charge for most stores that supply products and services to the final consumer.
In the United States this tax varies from county to county within the same state, if a merchant has a presence in the state to which he is selling, he must charge sales tax defined by the county for that sale.
They are charged in almost all American states, but in 4 of them consumers are exempt from this tax: Delaware, Montana, New Hampshire and Oregon.
O sales tax amount it is not included in the final price as it happens in Brazil with our taxes, that is, in stores you only see the price of the goods, and taxes appear separately
America Expert performs all the research and correct assessment service equivalent to the county, state, product or service that your company will market in the USA. This tax must be collected and passed on to the county and also reported on your annual returns.
Please contact us for all necessary details in the process of sales tax!
America Expert: the ideal
partnership for your company
America Expert, as a reference as an International Consultancy, operating in the market for almost two decades, has the best solutions for Brazilians looking for opportunities to undertake in the country with the greatest economy.
Trust in a company with structure to serve you
We have a highly qualified team, made up of graduated professionals, fluent in Portuguese, English and Spanish, with extensive experience in the areas of foreign trade, accounting, business administration and management, taxation and laws, marketing, web solutions and also licensed to carry out business opening and document certification.
Talk to a US Tax Specialist
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