NAREIT Endorses Sales Tax Fairness Bill from Chaffetz, Womack

06/12/2015

NAREIT supports the Remote Transactions Parity Act of 2015 (RTPA), a bill from Reps. Jason Chaffetz (R-UT) and Steve Womack (R-AR) intended to promote fairness in the collection of sales and use taxes for brick-and-mortar and online retailers.

“NAREIT believes that the time has come for Congress to allow the states to update their laws to reflect the realities of the 21st century marketplace,” said Steve Wechsler, NAREIT’s president and CEO, in a June 8 letter to Chaffetz and Womack backing the legislation.

(Contact: Dara Bernstein at dbernstein@nareit.com)

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.