FIRPTA Archives | Steamboat Ski Condos https://steamboatskicondos.com/tag/firpta/ Search ALL Steamboat Springs Condos for Sale Wed, 09 Mar 2022 21:38:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 FIRPTA Changes for Foreign Investors https://steamboatskicondos.com/firpta-changes-for-foreign-investors/ Wed, 09 Mar 2022 21:38:50 +0000 https://steamboatskicondos.com/?p=4588 Melissa Gibson from Land Title Guarantee recently sent the email below which explains how the FIRPTA withholding tax will increase from 10% to 15%.  Steamboat has a lot of property owners from other countries that will be affected by this increase when they sell.  US residents who live outside of Colorado will still be subject […]

The post FIRPTA Changes for Foreign Investors appeared first on Steamboat Ski Condos.

]]> Melissa Gibson from Land Title Guarantee recently sent the email below which explains how the FIRPTA withholding tax will increase from 10% to 15%.  Steamboat has a lot of property owners from other countries that will be affected by this increase when they sell.  US residents who live outside of Colorado will still be subject to a 2% withholding tax. If you would like more information, please call us at (970) 846-8284.

FIRPTA Rate Increase
Recent changes to the Foreign Investment in Real Property Tax Act (FIRPTA) have brought about an increase in the withholding tax rate on the sale of a U.S. real property interest by a foreign investor from 10% to 15%. This change goes into effect on February 16th. This month’s article explains the new change and how it applies to Buyers and Sellers.

PLEASE NOTE THAT THE COLORADO 2% WITHHOLDING TAX IS STILL IN EFFECT AND IS IN ADDITION TO THE 15% FIRPTA TAX.  THE TAXES ARE BASED ON THE SALES PRICE – NOT THE GAIN!

The post FIRPTA Changes for Foreign Investors appeared first on Steamboat Ski Condos.

]]>