[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP Code] Subject: Request for Judgment Confirming Tax Title — [Property Address] Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to formally request a judgment confirming tax title for the property located at [Property Address], in accordance with the laws and regulations of Puerto Rico. As a responsible property owner, it is crucial for me to ensure that all financial obligations related to the property are duly fulfilled. I have diligently paid all outstanding taxes and associated penalties within the legally mandated timeframe. This diligent commitment towards fulfilling my tax obligations demonstrates my dedication to upholding Puerto Rico's taxation laws. To facilitate the process, I have enclosed all necessary documents with this letter. These documents consist of the following: 1. Proof of Ownership: [Attach any supporting documents indicating your ownership of the property, such as a property deed or title certificate.] 2. Tax Payment Records: [Include copies of all relevant tax payment receipts or other documentation proving the payment of all outstanding taxes and penalties.] 3. Judgment Application: [Enclose a completely filled out and signed judgment application form as provided by the Puerto Rico Tax Authority.] I kindly request you to review the enclosed documentation and consider my application for the judgment confirming tax title promptly. On completion of the evaluation, I would appreciate receiving a written confirmation stating that the judgment has been granted. This will provide me with legal certainty of my ownership and enable me to proceed with any necessary property-related transactions without complications. If there are any additional requirements or steps that need to be taken, please inform me as soon as possible. I am ready and willing to cooperate fully to expedite this process. I appreciate your attention to this matter, and I'm confident that with your expertise and assistance, we can successfully conclude this request for judgment confirming tax title. If you have any questions or require further information, please do not hesitate to contact me at [Phone Number] or via email at [Email Address]. Thank you for your prompt attention to this important matter. Sincerely, [Your Name]
Puerto Rico Sample Letter for Judgment Confirming Tax Title
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How to fill out Puerto Rico Sample Letter For Judgment Confirming Tax Title?
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FAQ
Since 2012, Puerto Rico has offered investors ? primarily mainland Americans ? one of the most attractive deals in the world: move to the commonwealth and pay no taxes on interest, dividends or capital gains, all while living on a balmy and culturally vibrant Caribbean island without having to surrender US citizenship.
The U.S. tax code (Section 933) allows a bona fide resident of Puerto Rico to exclude Puerto Rico-source income from his or her U.S. gross income for U.S. tax purposes.
Under Act 22, the most controversial of the two, individual investors looking to benefit from the tax breaks must not have lived in Puerto Rico between 2006 and 2012. They need to buy a residency on the island and live there at least half of the year.
Once you live in Puerto Rico, your passive income is now ?Puerto Rico source income,? and Section 933 of the Internal Revenue Code says you don't have to pay federal taxes on Puerto Rico source income. Act 60 says you don't have to pay Puerto Rico taxes on passive income.
Law 68: Promotes acquisition and investment into the housing market on the island LEARN MORE. Law 187: Exempts buyers from paying property taxes for five years as well as certain closing costs for the purchase of the new residence as a primary residence, second home or investment property.
Act 22, now Chapter 2 of the Puerto Rico Incentives Code 60, offers lucrative tax incentives to high-net-worth individuals, empty nesters, retirees, and investors.
Along with Puerto Rico Tax Act 20, Puerto Rico adopted an additional incentive, the ?Act to Promote the Relocation of Individual Investors,? Puerto Rico Tax Act 22, to stimulate economic development by offering nonresident individuals 100% tax exemptions on all interest, all dividends, and all long-term capital gains.
Act 60 was intended to boost the Puerto Rican economy by encouraging mainland U.S. citizens to do business and live in Puerto Rico, and as is the case with many incentive programs, the opportunity and temptation to abuse these programs has led some to do just that.
