Foreign-source income

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 ?
Under both systems, US-source income of multinational corporations is meant to be taxed at the US rate applied to domestic corporate income, and foreign-source income of foreign-resident corporations is outside thejurisdiction of the US tax law.
Additional Benefits That Justify Tax on Foreign-Source Income 2183 4.
Therefore, if a state attempts to tax foreign-source income of a non-U.
Choosing a tax structure that allows foreign-source income to be deferred from U.
tax liability imposed on foreign-source income, subject to certain limitations.
The discussion draft would provide a 95 percent dividends-received deduction for dividends paid out of the foreign-source income.
GAO was asked to describe for a group of study countries with exemption systems: (1) the rules for exempting foreign-source income, and (2) the compliance risk and taxpayer compliance burden, such as recordkeeping, of the rules.
corporations computed a separate foreign tax credit for a defined group of statutory categories of foreign-source income or "baskets" (each of these is described separately in the Explanation of Selected Terms section).
source income from the sale of personal property, and a nonresident would generate foreign-source income.
US] regardless of the amount of FTCs applied to foreign-source income, so reducing allowable FTCs via interest allocation does not affect the current-year tax liability or tax incentives to use domestic debt.
It is aimed at reducing double taxation on foreign-source income, but provides additional savings when the tax rate abroad is lower than in Ireland.
The US rules for the taxation of foreign-source income are unique in their breadth of reach and degree of complexity.