Exam 9: Multijurisdictional Taxes

Foreign taxpayers (alsoknown as nonresident aliens)generally are subject tofederal taxes only on:

A "saving clause" in U.S. treaties prevents U.S. residents from using treaty provisions toavoid taxes on U.S. source income.

The Bloomberg BNA service makes finding state tax information easy by the use of:

Tax Notes International, published by the Tax Analysts, is a weekly publication.

BNA offers Country Portfolios covering the taxation of business operations in specific countries.

Companies conducting business in more than one state are subject tomultistate taxation. In order tocreate uniformity and consistency in the measurement and determination of business and nonbusiness income, the following legislation was drafted:

Checkpoint offers the unique RIA International Create-A-Chart function that facilitates the creation of tax-comparison charts with links tocontrolling authority, detailed explanations, and analysis by WG&L treatises.

Originally, the International Bureau of Fiscal Documentation (IBFD)was simply a document repository, but now it provides expert research products.

The law that prevents the income taxation of interstate commerce if a company's only business within the state is the solicitation of orders for sales of tangible personal property is called the:

Briefly explain the U.S. model for international taxation of controlled foreign corporations.

U.S.-adopted tax treaties usually donot address state and local tax issues.

The details of the tax law for a specific country can be found in CCH AnswerConnect by:

The transfer pricing rules target multinational companies that use the price-setting process in intercompany transactions toreport low taxable income in high-tax countries and high taxable income in low-tax countries.

Why are taxpayers emphasizing multijurisdictional tax planning?

In today's expanding tax planning and compliance, tax practitioners need toservice their clients by adding tofederal tax planning:

Once tax statutes are enacted, they must be interpreted and enforced. These duties usually fall toentities created by either statutory or constitutional provisions. These entities are called:

Which of the following statements describes the international tax services offered by LexisNexis?

How is the source of income determined for the purpose of taxation? Briefly identify the sourcing rules for the following types of income: dividends, services, sales of inventory and income from property.

Tax practitioners need toexpand their local service toclients toinclude:

Lexis Advance Tax offers the business primers "Doing Business in…" for a variety of countries, which provide an overview of different countries' tax environments.