Retention FIRPTA Non US
Hello, how are you? I hope you're well. I'm opening a single-member LLC in Florida. I live in Brazil and I'm Brazilian. Because I'm the sole owner of the LLC and I'm a foreigner, am I required to withhold 15% FIRPTA on land purchase and sale transactions? If so, how can I avoid this withholding?
Quick Answer:
For a single-member LLC owned by a non-resident alien, the LLC is generally treated as a foreign person for U.S. federal income tax purposes, including FIRPTA.
Note: This answer is provided for convenience only. It is important that you speak to a CPA about your individual tax situation.
