Foreign-source income

(redirected from Foreign-Source Incomes)

Foreign-source income

Income earned from international operations.

Foreign-Source Income

Personal income earned outside the United States. Unlike many other countries, foreign-source income is taxable in the United States.
References in periodicals archive ?
It also modifies the rules that govern how companies allocate their interest expenses between foreign and domestic incomes so that multinational corporations will be able to allocate less interest to their foreign-source incomes, and thus increase their foreign tax credit limitations.
companies with foreign-source income face potential double taxation.
Other taxes, such as value-added taxes, excise, property, and payroll taxes, can be deducted from foreign-source income but not credited.
income tax liability multiplied by the ratio of foreign-source income to worldwide income.
corporations may be taxed on their foreign-source incomes by both the foreign jurisdiction in which the income was earned and the United States, resulting in the double taxation of the foreign-source income.
Foreign-source income contributed approximately 42.
Corporations classified as manufacturers continued to earn the most foreign-source income, pay the most foreign taxes, and claim the most foreign tax credits in 2000.
For 2000, taxpayers were required to compute a separate foreign tax credit limitation for each of the following statutory categories of foreign-source income or "baskets" (each of these is described separately in the Explanation of Selected Terms section):
Next to the UK, the most foreign-source income came from Canada with $11.
corporations are frequently taxed by foreign jurisdictions on their incomes earned abroad, foreign-source income may be subject to double taxation.
corporations computed a separate foreign tax credit limitation for each of the following statutory categories of foreign-source income or "baskets" (each of these is described separately in the Explanation of Selected Terms) section:
Adjustments due to prior-year loss allocations are also made, including the recapture of foreign-source losses and the recharacterization of foreign-source income.