• Welcome News for Non-US Persons Investing in US Businesses
  • September 26, 2017
  • On July 13, the U.S. Tax Court, issued a decision that is of major importance to non - U.S. investors. In Grecian Magnesite Mining, Industrial & Shipping v. Commissioner (Grecian), the court held that if a non-U.S. person sells an interest in a partnership that is engaged in business in the United States, the non-U.S. seller is not subject to U.S. federal income tax on the gain from the sale. By so holding, the Tax Court, in no uncertain terms, rejected a long-standing IRS ruling to the contrary.