Nonbusiness Income

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Nonbusiness Income

Income a business derives from its investments not directly related to its operations. For example, if a dental office has excess cash and invests it in stocks, its dividends will be treated as nonbusiness income. It is used to calculate the net operating loss deduction.
References in periodicals archive ?
IFRS requires, for instance, the compilation of a general income statement that includes non-business income, thereby affecting a company's profit margin.
Second, the national tax regimes of many Member States draw distinctions between business and non-business income and assets, generally to prevent closely held companies from paying personal expenses of their shareholders.
We are presently opposed to Senate Bill 430, which removes the long-accepted definitions of business and non-business income and defers to a standard based on Supreme Court jurisprudence," he said in his role as tax lawyer to the State Chamber of Commerce.
income of foreign taxpayers, taxation of business and non-business income, the transfer pricing problem, deferral and its limits, foreign tax credit, treaties and the future of the international tax regime.
Current financial statements, by contrast, make a distinction between business and non-business income such as that from the disposal of fixed assets and from exchange-rate earnings.
858 per ADS, which is the amount to be reported as foreign non-business income for Canadian tax purposes.
Under section 24344 of the California Revenue and Taxation Code, however, taxpayers must offset their business interest expense -- on a dollar-for-dollar basis -- with non-business income not allocable to the state.
Some states do not distinguish between business and non-business income and are considered "full apportionment" states.
Under California law, however, taxpayers must offset their business interest expense -- on a dollar- for-dollar basis -- with non-business income not allocable to the State.
Under California law, however, taxpayers must offset their business interest expense -- on a dollar-for-dollar basis -- with non-business income not allocable to the State.
Your statement that my company is accountable for its allocation of non-business income to another state is incorrect.
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