Sec. 324. Increase in rate of withholding of tax on dispositions of United States real property interests
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/bill/114/hr/2029/eah/section-324·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsections (a), (e)(3), (e)(4), and (e)(5) of section 1445 are each amended by striking 10 percent and inserting 15 percent . Section 1445(c) is amended by adding at the end the following new paragraph: In the case of a disposition— of property which is acquired by the transferee for use by the transferee as a residence, with respect to which the amount realized for such property does not exceed $1,000,000, and to which subsection (b)(5) does not apply, subsection
(a)shall be applied by substituting 10 percent for 15 percent . . The amendments made by this section shall apply to dispositions after the date which is 60 days after the date of the enactment of this Act.