Cea Legal P.C. | Attorneys At Law
Make your New York-based business stand out with Cea Legal P.C. Business transactions, corporate governance and real estate, blockchain, hospitality, trust & estate, business immigration, and more
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Cea Legal P.C. | Attorneys At Law

Customized, Informed And Trusted Business Counsel

Q & A

Q: Is it okay to issue a large number of shares for my corporation?

A: Yes, issuing a large number of shares is generally acceptable. However, it’s important to be cautious, as in certain states like Delaware, authorizing a high number of shares can significantly impact your annual franchise tax.

Q: As a foreign national selling real estate in the U.S., do I have to comply with Foreign Investment in Real Property Tax Act (FIRPTA) even if there is no capital gain?

A: Yes, compliance with the FIRPTA is mandatory. A 15% withholding of the sale price is required at closing and must be submitted to the IRS. However, you may be eligible for a full refund when filing your U.S. tax return if no capital gain is realized.