Over 25 Years of Experience
EXCHANGING IS NOT A TAXING EVENT
As a qualified intermediary, Newport Exchange Corp. facilitates tax-free exchanges of investment or business-use property under IRS Code Section 1031. While §1031 applies to all “like kind” exchanges, Newport’s focus is on real estate exchanges. In that arena, all real estate is like kind to any other real estate; a taxpayer can exchange an office building for an apartment building, a condominium unit for a warehouse, a three-family house for a 12-unit apartment building or any other type of real estate. To successfully conform to the Internal Revenue Code and the Regulations, you need the services of a qualified intermediary. Newport has been a qualified intermediary for over 25 years.