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U.S. Legislation being Drafted to Increase REIT Ownership Threshold for FIRPTA Taxation

|Proposed Changes|United States
United States

Legislation is currently being drafted in the U.S. Congress that would increase the foreign ownership threshold in a real estate investment trust (REIT) before the stock is considered a U.S. real property interest under the 1980 Foreign Investment in Real Property Tax Act. The bill, the Real Estate Investment and Jobs Act of 2014, increases the ownership threshold from 5% to 10% of the stock in…

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