Perspectives on Real Estate - Fall 2012

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In This Issue:

- Energy Consumption Data Reporting in California – AB 1103 and 531

- Real Estate and Construction Risk Management: Tips to Ensure Your Status as an Additional Insured

- Attention: New Foreign Tax Withholding Forms

- Resolving Municipal Distress: Chapter 9 and Public-Private Partnerships

Excerpt from Attention: New Foreign Tax Withholding Forms:

The Internal Revenue Service (IRS) recently announced that it is modifying certain of its tax forms, known generally as Form W-8s, used by foreign individuals and entities (“Foreign Parties”) to claim a reduction or exemption of withholding taxes on payments from U.S. sources (“U.S. Payors”). Payments subject to withholding include interest, rents, dividends and partnership distributions, all of which are extremely relevant to U.S. real estate activities. These new Form W-8s are scheduled to be finalized in December 2012 and available for use starting in 2013. If you are a U.S. Payor making payments to any Foreign Party in connection with your business activities, or if you are a Foreign Party receiving U.S.-sourced income, it is important that you are aware of the revisions to the Form W-8s to avoid any unintended tax withholding liabilities.

Please see full newsletter below for more information.

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Topics:  Chapter 9, Energy Consumption, Foreign Investment, Liability Insurance, Municipalities, Public-Private Partnerships

Published In: Bankruptcy Updates, Business Organization Updates, Energy & Utilities Updates, Commercial Real Estate Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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