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@example.com.
The Corporate Transparency Act becomes effective starting January 1, 2024. The new law requires millions of companies to file a Beneficial Ownership Information (BOI) Report. Failure to comply with BOI regulations can result in daily fines of up to $500 and imprisonment.
The Guillen Pujol CPA team has outlined legislative updates, particularly in taxation and economics, following Florida Governor DeSantis's approval of numerous bills in May 2023. Notable laws include CS/CS/SB 264—Interests of Foreign Countries, CS/CS/HB 1259—Education: Addressing charter school funding, CS/CS/SB 846—Agreements of Educational Entities with Foreign Entities, Tax Breaks (HB 7063)...
After more than a year of fraught negotiations, President Joe Biden on Tuesday signed into law the Inflation Reduction Act, a long-awaited ambitous bill passed by the Democrats at the U.S. House and Senate. The historic bill will invest $370 billion in spending and tax credits in low-emission forms of energy to fight climate change, stable health care premiums for millions and significant savings on power bills for most Americans, Vox Senior Correspondent Ellen Loanes reported
The Congressional Budget Office said this week that high inflation is expected to persist for the rest of the year, saddling Americans with higher costs as price hikes continue, Jeff Stein, The Washington Post's White House economics reports.
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.
President Joe Biden is contemplating new tax hikes aimed at high-income families to finance the second phase of his multitrillion-dollar infrastructure plans, according to people familiar with the discussions, Politico…