Florida has the highest percentage of foreign investors in real estate with the US, therefore it is critical for a foreign person selling US real property to address FIRPTA requirements with their tax professionals at the beginning of the selling process. When a foreign-owned US real property interest is sold, the Foreign Investment in Real Property Tax Act (FIRPTA) requires that a tax equal to 15 percent of the “sale price” by the foreign person upon disposition be remitted to the Internal Revenue Services (IRS), unless one or more exemptions apply to the seller on the transaction from the sale.