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The New Florida Law Imposes Restrictions On Property Acquisitions Within The State By Individuals With Affiliations To Foreign Countries Of Concern, Such As China, Russia, Venezuela, Cuba, And The Syrian Arab Republic.

Florida Law Restricting Foreign Real Estate Ownership, Deadline.

Florida Governor Ron DeSantis signed Senate Bill 264 into law on May 8, 2023, restricting foreign principals from owning, having a controlling interest in, or acquiring real property in Florida. The law defines foreign principals and identifies "foreign countries of concern," including China, Russia, and Venezuela. SB 264 imposes extensive restrictions on foreign principals owning real property, especially agricultural land, and areas near critical infrastructure. Rules published on September 20, 2023, outline procedures for property purchases near military installations or critical infrastructure. An exemption exists for agricultural land owned before July 1, 2023, but post-July 1 ownership requires registration. Legal challenges persist, and noncompliance may result in civil and criminal penalties, including a $1,000 daily fine. The law is in effect, and the deadline for compliance is December 31, 2024. For assistance, contact us at 305-831-4093 or email [email protected].
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Tax Season Challenges Ahead

Tax Season Challenges Ahead.

Certified public accountants (CPAs) and other tax professionals in the U.S. are sounding the alarm about the upcoming tax season–which has been greeted with skepticism about how the IRS will deal with its continuing logistical challenges, with taxpayers and their preparers likely to experience more frustration and delays.
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New Stimulus Check If You Live In This State

Are you Eligible for this New Round of Stimulus Check?

Governor Gavin Newsom signed additional COVID-19 relief legislation this week that will provide $600 stimulus checks to the majority of his state's residents as well as additional payments to dependents, Newsweek reported. At the end of June, the Democratic governor reached an agreement with state lawmakers to approve the direct payments, as well as billions in other economic relief, according to Newsweek. 
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