Essentials of United States taxation:
Gespeichert in:
| Hauptverfasser: | , |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
The Hague [u.a.]
Kluwer
1999
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Getr. Zählung |
| ISBN: | 9041109641 |
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| 100 | 1 | |a Abrams, Howard E. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Essentials of United States taxation |c by Howard E. Abrams and Richard L. Doernberg |
| 264 | 1 | |a The Hague [u.a.] |b Kluwer |c 1999 | |
| 300 | |a Getr. Zählung | ||
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| 650 | 7 | |a Vennootschapsbelasting |2 gtt | |
| 650 | 4 | |a Multinationales Unternehmen | |
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Steuer | |
| 650 | 4 | |a Corporations |x Taxation |x Law and legislation |z United States | |
| 650 | 4 | |a Income tax |x Law and legislation |z United States | |
| 650 | 4 | |a International business enterprises |x Taxation |x Law and legislation |z United States | |
| 650 | 4 | |a Partnership |x Taxation |z United States | |
| 650 | 4 | |a Tax administration and procedure |z United States | |
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| 651 | 4 | |a USA | |
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| 700 | 1 | |a Doernberg, Richard L. |e Verfasser |4 aut | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008785308&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
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Datensatz im Suchindex
| _version_ | 1804127593353445376 |
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| adam_text | Contents
Contents
Part 1: General Principles
1. Overview of Taxation in the United States 1 1
1.1. Constitutional Issues 1 1
1.2. Federal Taxes 1 2
1.2.1. Income tax 1 2
1.2.2. Payroll tax 1 2
1.2.3. Excise tax 1 3
1.3. Transfer taxes 1 4
1.4. State and Local Taxes 1 4
1.4.1. Corporate income or franchise tax 1 4
1.4.2. Individual income tax 1 5
1.4.3. Es Ute or inheritance tax 1 5
1.4.4. Sales and use taxes 1 6
1.4.5. Propcrty taxes 1 6
1.4.6. Miscellaneous taxes 1 6
2. Federal Income Taxation: Structural Issues 1 7
2.1. Tax Rates 1 7
2.2. Tax Base 1 8
2.2.1. Income 1 8
2.2.2. Deductions 1 9
2.3. Credits 1 10
2.4. Compliance 1 10
2.5. Alternative minimum tax 1 12
3. Federal Income Tax: Conceptual Issues 1 13
3.1. Income 1 13
3.1.1. Compensation 1 13
3.1.2. Periodic payments 1 15
3.1.3. Property dispositions 1 16
3.1.3.1. Amount realized 1 17
3.1.3.2. Basis 1 17
3.1.3.3. Indcbtedness 1 19
3.1.3.4. Recognition 1 20
3.1.3.4.1. Scction 1031 1 20
vü
3.1.3.4.2. Othcr nonrecognition provisions 1 23
3.1.4. Discharge of indebtedness 1 24
3.1.5. Original issue discount 1 27
3.2. Dcductions 1 29
3.2.1. Trade or business expenses 1 29
3.2.2. Depreciation and amortization 1 30
3.2.3. Interest 1 33
3.2.4. Losses and bad debts 1 35
3.2.5. Deduction vs. capital expenditure 1 36
3.2.6. Deduction vs. personal expense 1 38
3.2.7 Net operating losses 1 39
3.3. Credits 1 40
3.4. Timing 1 41
3.4.1. Taxable period 1 41
3.4.2. Method of accounting 1 41
3.4.2.1. Cash method 1 41
3.4.2.2. Accrual method 1 42
3.4.3. Accounting for inventory 1 43
3.4.4. Installment reporting 1 44
3.4.5. At risk rules 1 46
3.4.6. Passive activity losses 1 47
3.5. Gharactcrization 1 49
3.5.1. Definition of a capital asset 1 50
3.5.2. Holding period 1 52
3.5.3. Säle or exchange requirement 1 53
3.5.4. Section 1231 assets 1 54
3.5.5. Depreciation recapture 1 55
3.5.6. Treatment of capital gains 1 56
3.5.7. Treatment of capital losses 1 58
3.6. Related party issues 1 59
3.6.1. Assignment of income 1 59
3.6.2. Transfer pricing 1 61
4. Legislative, Administrative and Judicial Aspects 1 63
4.1. Legislative Process 1 63
4.2. Administrative Process 1 64
4.2.1. Organization of the IRS 1 64
4.2.2. IRS Interpretation of the tax law 1 64
4.2.3. IRS administrative proceedings 1 66
viii
4.3. Judicial Process 1 67
Part 2: Corporate Taxation
5. The Corporate Double Tax 2 1
5.1. Introduction and History 2 1
5.2. Revenue Effects 2 3
5.3. The Incidence of the Corporate Tax 2 4
6. Forming a Corporation 2 9
6.1. Introduction 2 9
6.2. Section 351: The Basics 2 10
6.3. A §351 Roadmap 2 12
6.4. Property Requirement 2 15
6.5. What Constitutes a Transfer 2 16
6.6. Stock Requirement 2 17
6.6.1. Boot 2 18
6.6.2. Assumption of liabilities 2 19
6.6.3. The definition of stock 2 24
6.6.4. Debt instruments 2 26
6.6.5. Transferor s basis 2 27
6.6.6. Treatment of the transferee 2 30
6.7. Control Requirement 2 32
6.7.1. The control group 2 34
6.7.2. Immediately after 2 36
6.8. The Relationship of §351 to Other Provisions and
Legal Doctrines 2 38
6.8.1. Section 351 vs. sale 2 39
6.8.2. Assignment of income 2 41
6.8.3. Business purpose 2 43
6.8.4. Tax benefit rule 2 43
7. The Corporation as a Taxable Entity 2 45
7.1. Corporate Tax Rates and Base 2 45
7.2. Associations Taxable as Corporations 2 50
7.3. Ignoring the Corporation: Dummy Corporations 2 52
7.4. Ignoring the Corporation: Reallocation of Income and
Related Issues 2 55
ix
7.5. The Passive Loss Limitations 2 63
7.6. A Corporation s Capital Structure 2 65
8. Cash and Property Distributions 2 73
8.1. Imroduction 2 73
8.2. Earnings and Profits 2 75
8.3. Relief From Dividends 2 82
8.4. Treatment of the Distributing Corporation 2 87
8.5. Effect of Property Distributions on Earnings
and Profits 2 94
8.6. Treatment of Shareholders 2 97
8.7. Constructive Dividends 2 97
8.8. Constructive Dividends and Corporate Shareholders ... 2 105
9. Redemptions 2 109
9.1. Introduction 2 109
9.2. Redemptions Taxed as Exchange 2 112
9.2.1. Complete terminations 2 112
9.2.2. Substantially disproportionate redemptions 2 117
9.2.3. Redemptions not essentially equivalent
to a dividend 2 120
9.2.4. Partial liquidations 2 123
9.2.5. Redemptions to pay death taxes 2 127
9.3. Redemptions Taxed as Distributions 2 128
9.4. Corporate Level Taxation of Redemptions 2 130
9.5. Redemptions Related to OtherTransactions 2 134
9.6. Redemptions for More or Less Than
Fair Market Value 2 138
9.6.1. Redemption premiums 2 138
9.6.2. Stock surrenders 2 140
9.7. Redemptions Through Related Corporations 2 145
10. Stock Dividends 2 153
10.1. Overview and History 2 153
10.2. The General Rule of §305(a) 2 155
10.3. Exceptions to the General Rule Under §305(b) 2 156
10.4. Deemed Distributions Under §305(c) 2 163
10.5. Poison Pills 2 165
x
11. Tainted Stock 2 167
11.1. The Preferred Stock Bailout 2 167
11.2. Definition of §306 Stock 2 168
11.3. Disposition of §306 Stock 2 172
12. Liquidations 2 177
12.1. Introduction 2 177
12.2. Section 331 Liquidations 2 179
12.2.1. Treatment of the shareholders 2 179
12.2.2. Treatment of the liquidating distribution 2 181
12.2.3. The Court Holding Co. doctrine and
former §337 2 188
12.2.4. The corporate triple tax 2 192
12.3. Subsidiary Liquidations 2 193
12.3.1. Treatment of the parent corporation 2 194
12.3.2. Treatment of the subsidiary corporation 2 196
12.3.3 Carryover of tax attributes 2 198
13. Taxable Acquisitions 2 199
13.1. Asset Purchases 2 199
13.2. Stock Purchases 2 202
13.3. Section 338 Election 2 203
13.3.1. Qualified stock purchases 2 205
13.3.2. Election 2 205
13.3.3. Operation of §338 2 206
13.3.4. Adjustments for liabilities 2 207
13.3.5. Allocation of basis 2 208
13.3.6. Consistency requirements and
deemed elections 2 209
13.3.7: A«quisition of a subsidiary from a
j^^KShsolidated group 2 210
13.4. Expenses in Connection with an Acquisrtion 2 211
13.5. Corporate Acquisitions and the Use of Debt 2 212
13.5.1. Stock Acquisitions out of retained earnings .... 2 212
13.5.2. Debt financed stock acquisitions and
leveraged buyouts 2 212
13.5.3. Risks of excessive corporate debt 2 214
xi
14. Reorganizations 2 219
14.1. Introduction 2 219
14.2. Amalgamating Reorganizations: Definitions 2 221
14.2.1. A reorganizations 2 221
14.2.2. B reorganizations 2 228
14.2.3. C reorganizations 2 231
14.2.4. Nondivisive D reorganizations 2 235
14.2.5. Parent/subsidiary combinations 2 239
14.2.6. G reorganizations 2 242
14.2.7. The Status of creditors in a reorganization 2 246
14.2.8. A retrospective on the rules of §368 2 248
14.3. Amalgamating Reorganizations: Taxation 2 249
14.3.1. Gorporate level taxation 2 250
14.3.2. Shareholder level taxation 2 254
14.3.3. A note on securities 2 261
14.4. Divisive Reorganizations 2 263
14.4.1.Basic requirements 2 263
14.4.2. Taxation of successful and failed divisions 2 273
14.4.3. Divisive reorganizations and transfers
of contra] 2 274
14.4.3.1. Pre distribution transfers of control 2 274
14.4.3.2. Post distribution loss of control 2 275
14.4.4. Alternatives to §355 2 281
14.5. One Party Reorganizations 2 282
15. Gombining Tax Attributes 2 287
15.1. Introduction 2 287
15.2. Section 381 2 288
15.3. Section 382 2 289
15.3.1. Ownership changes 2 291
15.3.2. Constructive ownership 2 292
15.3.3. Preferred stock 2 293
15.3.4. Option 2 293
15.3.5. Continuity of business 2 293
15.3.6. Corporate value 2 294
15.3.7. Built in gain and built in losses 2 294
15.4. Section 383 2 295
15.5. Section 384 2 295
15.6. Section 269 2 297
xü
15.7. Affiliated Corporations 2 299
15.7.1. Eligibility for filing 2 300
15.7.2. Election to file a Consolidated return and
other accounting considerations 2 300
15.7.3. Computation of a Consolidated return:
in general 2 301
15.7.4. Computation of a Consolidated return:
intercompany transactions 2 301
15.7.5. Computation of a Consolidated return:
intercompany distributions 2 302
15.7.6. Investment basis accounts and excess
loss accounts 2 303
15.7.8. Limitations on Consolidated reporting 2 304
16. Penalty Provisions 2 309
16.1. Introduction 2 309
16.2. Accumulated Earnings Tax: 2 310
16.2.1. Overview 2 310
16.2.2 Unreasonable accumulations 2 311
16.2.3. Matching earnings and reasonable needs 2 314
16.2.4. Bürden of proof 2 315
16.2.5. Computation of the accumulated earnings tax .. 2 316
16.3. Personal Holding Company Tax 2 317
16.3.1. Overview 2 317
16.3.2. Stock ownership test 2 318
16.3.3. Income test 2 319
16.3.3.1. Adjusted ordinary gross income 2 319
16.3.3.2. Personal holding Company income 2 320
16.3.4. Computation 2 322
16.4. Collapsible Corporations 2 324
16.4.1. Overview 2 324
16.4.2. The framework of §341 2 325
16.4.3. Definition of a collapsible Corporation 2 326
16.4.4. Presumption of collapsibility 2 328
16.4.5. The limitations of §341 (d) 2 329
16.4.6. Section 341(e) amnesty 2 330
16.4.7. Consents under §341 (f) 2 331
16.4.8. Collapsible corporations: the Kingcase 2 331
xiii
17. S Corporations 2 335
17.1. Introduction 2 335
17.2. Qualification and Election 2 336
17.3. One Class of Stock 2 338
17.4. Formation 2 342
17.5. Pass Thru of Gorporate Income and Deduction 2 342
17.6. Shareholder Dcbt and Equity Basis;
Loss Limitations 2 344
17.6.1. Debt and equity basis 2 344
17.6.2. At risk rules and passive loss limitations 2 350
17.6.3. Pre contribution appreciation and
related problems 2 351
17.7. Family Ownership and §1366(e) 2 352
17.8. Nonliquidating Distributions 2 353
17.9. Dispositions of Shares and Liquidating
Distributions 2 357
17.9.1. Disposition of stock not in redemption 2 357
17.9.2. Redemptions of stock 2 359
17.9.3. Liquidating distributions 2 360
17.10. Transition Issues 2 361
17.10.1. From C corporation to S corporation 2 361
17.10.1.1 Shareholder taxation of distributions .... 2 361
17.10.1.2. Corporate level tax on built in gains .... 2 365
17.10.1.3. Disabilities associated with
passive Investment income 2 367
17.10.1.3.1. Corporate tax on excessive
passive income 2 367
17.10.1.3.2. Forced termination of S
corporation Status 2 369
17.10.1.4. No carryover from C year to S year 2 370
17.10.2. From S corporation to G corporation 2 370
Part 3: Partnership Taxation
18. The Structure of Partnership Taxation 3 1
18.1. ANote on Limited Liability Companies 3 1
18.2. The Pass Thru of Partnership Income 3 2
18.3. Formation and Operation of the Partnership 3 4
xiv
18.4. Nonliquidating Distributions 3 7
18.5. Liquidating Distributions and Sales of
Partnership Interests 3 13
19. Determining Distributive Shares 3 15
19.1. Basic Maintenance of Capital Accounts 3 17
19.2. Economic Effect I: The General Test 3 18
19.3. Economic Effect II: The Alternate Test 3 27
19.4. Failure to Satisfy the Economic Effect Test 3 32
19.5. Allocations With Respect to Gontributed Property .... 3 35
19.5.1. Allocations to the Contributing Partner
Under §704(c)(l)(A) 3 35
19.5.2. Reverse §704(c) Allocations to the Existing
Partners 3 46
19.6 Allocations of Deductions Attributable to
Nonrecourse Debt 3 47
19.6.1. Definitions 3 48
19.6.1.1. Nonrecourse liability 3 48
19.6.1.2. Minimum gain 3 49
19.6.1.3. Nonrecourse deductions 3 50
19.6.2. General principles 3 52
19.6.3. Distribution ofrefinancingproceeds 3 60
19.6.4. Book/tax disparities 3 61
19.6.5. Partner nonrecourse debt 3 62
19.7. Substantiality Under §704(b) 3 62
19.8. Prohibitions on Retroactive Allocations 3 66
20. A Partner s Outside Basis 3 69
20.1. Basic Principles Under §705 3 69
20.2. Partnership Indebtedness and Outside Basis 3 71
20.2.1. History and basic principles 3 72
20.2.2. Allocations under the regulations 3 75
20.2.2.1 Recourse liabilities 3 76
20.2.2.2. Nonrecourse liabilities 3 79
20.3. Why §752? 3 84
21. Nonliquidating Distributions 3 87
21.1. Distributions Not Subject to §751 (b) 3 87
21.1.1. Basic taxation rules 3 87
XV
21.1.1.1. Recognition of gain and loss 3 87
21.1.1.2 Basis of distributed property and
outside basis 3 87
21.1.1.3. The timingof taxation 3 89
21.1.2. Distributions and capital accouncs 3 90
21.1.2.1. Excess cash 3 90
21.1.2.2. Appreciated and loss property 3 92
21.1.2.2.1. Pre distribution book/tax
disparities 3 93
21.1.2.2.1. Book/tax disparity caused by asset
revaluation 3 94
21.1.2.2.2. Book/tax disparity caused by
insufficient outside basis 3 95
21.1.3. Distributions of encumbered property 3 96
21.1.4. Distribution of marketable securities 3 97
21.1.5. Disposition of distributed assets 3 98
21.2. Distributions Subject to §751 (b) 3 100
21.2.1. The defmition of unrealized receivables 3 100
21.2.2. The definition of substantially appreciated
inventory 3 101
21.2.2.1. Partnership inventory items 3 101
21.2.2.2. Substantial appreciation 3 102
21.2.3. Operation of §751(b) 3 103
21.2.4. Does §751(b) make sense? 3 108
22. A Partner s Transactions with the Partnership 3 111
22.1. Guaranteed and Similar Payments 3 111
22.2. Disguised Sales and Related Problems 3 116
22.2.1. Disguised sales under §707(a)(2)(B) 3 116
22.2.2. Distributions of contributed property 3 120
22.2.3. Swap transactions under §737 3 122
22.2.4. Gapitalization avoidance and §707(a)(2)(A) 3 123
22.3. Limitations Applicable to Controlled Partnerships ... 3 126
22.3.1. Disallowed losse 3 126
22.3.2. Capital gains 3 128
23. Acquisitions of Partnership Interests 3 129
23.1. Contributions of Property 3 129
23.1.1. Basic principles 3 129
xvi
23.1.2. Encumbered property 3 131
23.1.3. Payables and receivables 3 134
23.1.4. Promissory notes 3 135
23.1.5. Holding periods 3 135
23.1.6. Disposition of contributed property 3 136
23.1.7. Contributions to Investment companies 3 137
23.2. Contributions of Services 3 137
23.2.1. Taxation of the contributing partner 3 138
23.2.2. Taxation of the partnership 3 142
23.3 Non contribution Acquisitions 3 145
24. Dispositions of Partnership Interests 3 147
24.1. Distributions in Liquidation of a Partnership
Interest 3 147
24.1.1. A note on §§731 732 3 148
24.1.2. Application of §736 3 153
24.1.2.1. A first note on the application of §736 ... 3 153
24.1.2.2 Classificacion of payments under §73 .... 3 154
24.1.2.3 Taxation of payments in liquidation
of ageneral partnership interest when
capital is not a material income producing
factor 3 156
24.1.2.4. Taxation of payments under §736(b) .... 3 158
24.1.2.5. Deferred payments under §736 3 160
24.1.2.6 Section 736, partnership goodwill and
the §704(b) regulations 3 162
24.1.2.7. A final note on the application of §736 ... 3 163
24.2. Disposition of a Partnership Interest 3 165
24.2.1. Basic rules 3 165
24.2.2. Application of §751 (a) 3 166
24.2.3. Non sale dispositions 3 168
24.2.4. Closing of the taxable year 3 168
24.2.5. Termination of the partnership 3 169
24.2.6. Death of a partner 3 173
25. Loss Limitations 3 175
25.1 Section 704(d): The Outside Basis Limitation 3 175
25.1.1. The relation of §704(d) to §704(c) 3 176
25.1.2. Transfers of partnership interests 3 177
xvü
25.2 Section 465: The At Risk Limitations 3 179
25.2.1 An overview of §465 3 179
25.2.2. Application of §465 to partners and
partnerships 3 182
25.3 A Re cxamination of §704(d) and its
Relation to §704(b) 3 184
25.3.1 Misallocations of loss 3 184
25.3.2. Contributions of notes 3 188
25.4 Section 469: The Passive Loss Limitations 3 190
25.5 Section 163(d): The Investment Interest Limitation . . 3 191
26. Optional Basis Adjustments 3 195
26.1 The Optional Basis Adjustment Under §734(b) 3 196
26.1.1. Distributions triggering the optional
basis adjustment 3 196
26.1.1.1. Nonliquidating distributions of
excess cash 3 196
26.1.1.2 Nonliquidating distributions of
high basis property 3 197
26.1.1.3 Liquidating distributions 3 198
26.1.2. The amount of the adjustment under §734(b) .. 3 199
26.1.3. Allocating the §734(b) adjustment under §755 . 3 200
26.1.3.1. Allocation of positive §734(b)
adjustments 3 201
26.1.3.2. Allocation of negative §734(b)
adjustments 3 203
26.1.3.2 Allocation of §734(b) adjustments to
depreciable property 3 204
26.2 The Optional Basis Adjustment Under §743(b) 3 205
26.2.1. Two way adjustments under §743(b) 3 206
26.2.2. Allocating the §743(b) adjustment under §755 . 3 213
26.2.2.1 Basic rules 3 213
26.2.2.2. Allocation of §743(b) adjustments to
depreciable property 3 215
26.2.2.3. Partnership disposition of adjusted
property 3 216
26.2.3. Distribution of property subject to a
§743(b) basis adjustment 3 216
26.3 Mechanics of the Election 3 218
xviii
26.4 Optional Basis Adjustments and Capital Accounts .... 3 220
26.5 Basis Adjustments Under §732(d) 3 221
27. Partnership Level Issues 3 225
27.1 Glassification as a Partnership 3 225
27.1.1.Elective classification 3 226
27.1.2. Publicly traded partnerships 3 228
27.1.3.Recognizing partncr Status 3 229
27.1.3.1. General principles 3 229
27.1.3.2. Family partnerships 3 229
27.2 Partnership Elections 3 233
27.2.1. Täxable year 3 234
27.2.2. Method of accounting 3 236
27.3 Special Issues 3 236
27.3.1. The anti abuse rules 3 236
27.3.1.1. The general anti abuse rule 3 237
27.3.1.2 The abuse of entity rule 3 239
27.3.2. Treatment of organization and syndication
expenses 3 240
27.3.3. Cancellation of indebtedness income and §108 . 3 241
27.4 Mergers and Divisions 3 243
Part 4: International Taxation
28. Introduction 4 1
28.1. Growth of International Trade 4 1
28.2. Economics of International Trade 4 1
28.3. The Central Problem of International Taxation 4 1
28.4. Economics of Juridical Double Taxation 4 2
28.5. Overview of Worldwide International Tax Systems 4 4
29. Basic U.S. Jurisdictional Tax Principles 4 7
29.1. Introduction to U.S. Taxing Provisions 4 7
29.2. Outbound Transactions 4 7
29.3. Inbound Transactions 4 8
29.3.1. Individuais 4 8
29.3.2. Corporations 4 10
29.3.3. Partnerships 4 11
xix
29.4. Gitizenship and Residency 4 11
29.4.1. Individuais 4 11
29.4.2. Corporations 4 13
29.5. Expatriates 4 14
29.6. Introduction to U.S. Income Tax Treaties 4 15
30. Taxing Rules 4 17
30.1. Overview 4 17
30.2. Engaged in a Trade or Business in the
United States 4 17
30.3. Effectively Connected Income 4 20
30.3.1. U.S. source income 4 20
30.3.2. Foreign source income 4 21
30.3.3. Income effectively connected to a pre
existing trade or business 4 22
30.3.4 Effectively connected income election 4 23
30.4. Nonbusiness Income from U.S. Sources 4 23
30.4.1. Interest 4 24
30.4.1.1. Original issue discount 4 24
30.4.1.2. Portfolio interest 4 25
30.4.1.3. Bank deposits 4 27
30.4.1.4. Interest substitutes 4 28
30.4.2. Dividends 4 28
30.4.3. Rents 4 29
30.4.4. Income from Services 4 29
30.4.5. Social security benefits 4 30
30.4.6. Other FDAP income 4 30
30.4.7. Capital gains 4 31
30.5. The Branch Profits Tax 4 31
30.5.1. The branch profits tax on branch earnings 4 31
30.5.2. The branch profits tax on interest 4 33
30.5.3. The branch profits tax and secondary
withholding on dividends 4 34
30.6. Foreign Investment in U.S. Real Property 4 34
30.6.1. Operational income 4 34
30.6.2. Dispositional income 4 36
30.7. Transportation Income 4 38
30.8. Taxation of Foreign Governments 4 39
XX
31. Source Rules 4 41
31.1. The Income Source Rules 4 41
31.1.1. Interest 4 41
31.1.1.1. Domestic payor 4 41
31.1.1.2. Foreign payor 4 42
31.1.2. Dividends 4 43
31.1.2.1. Domestic payor 4 43
31.1.2.2. Foreign payor 4 43
31.1.3. Personal Services 4 43
31.1.4. Rentals and royalties 4 46
31.1.5. Real property 4 48
31.1.6. Personal property 4 48
31.1.6.1. Purchased inventory 4 48
31.1.6.2. Produced personal property 4 49
31.1.6.3. Intangible property 4 50
31.1.6.4. Depreciable personal property 4 51
31.1.6.5. Other personal property 4 51
31.1.6.6. Sales through offices or fixed places of
businesses in the united states 4 52
31.1.7. Other gross income 4 52
31.1.8. Residence for source rule purposes 4 53
31.2. Deduction Allocation Rules 4 54
31.2.1. In general 4 54
31.2.2. Interest 4 57
31.2.3. Research and experimental expenditures 4 59
31.2.4. Losses 4 61
32. The Role of Income Tax Treaties 4 63
32.1. The Bilateral Income Tax Treaty Network 4 63
32.2. The Treaty Making Process in the United States 4 64
32.3. The Relationship of Income Tax Treaties and
the Code 4 64
32.4. Development of Model Income Tax Treaties 4 65
32.5. Income Tax Treaty Provisions 4 66
32.5.1. Interpretation of U.S. income tax treaties 4 67
32.5.2 Scope of the treaty 4 67
32.5.3 Definitions 4 68
32.5.4 Classification and assignment rules 4 69
32.5.4.1 Business income 4 69
xxi
32.5.4.2 Personal Services income 4 72
32.5.4.3 Investment income 4 74
32.5.4.4. Other income 4 75
32.5.5 Avoidance of double taxation 4 76
32.5.6. Limitation on benefits 4 76
32.5.7. Treaty benefits for hybrid entities 4 78
32.5.8. Nondiscrimination 4 78
32.5.9. Mutual agreement procedure 4 80
32.5.10. Exchange of information and administrative
assistance 4 81
32.6. Tax Sparing 4 82
33. Filing, Withholding, and Reporting Requirements 4 85
33.1. Filing Requirements 4 85
33.2. Sailing Permits 4 86
33.3. The Need for Withholding 4 86
33.4. Withholding on Dividends, Interest, and
Other Periodic Payments 4 86
33.4.1. Income subject to withholding 4 87
33.4.2. Reduced rates of withholding 4 90
33.4.3. Who is a Withholding Agent? 4 91
33.4.4. Payments involving partnerships 4 92
33.4.5. Payments to foreign intermediaries 4 94
33.5. FIRPTA Withholding 4 97
34. Introduction to U.S. Business Activity in Foreign
Countries 4 101
34.1. Introduction 4 101
34.2. Citizens and Residents of the United States
Living Abroad 4 102
34.2.2. Introduction 4 102
34.2.2. Foreign income exclusion 4 103
34.2.3. Housing cost amount 4 104
35. The Foreign Tax Credit 4 105
35.1. Overview 4 105
35.1.1 Relieving double taxation 4 105
35.1.2. The statutory framework 4 108
35.2. Eligibility 4 109
xxii
35.3. Creditable Taxes 4 109
35.3.1. Is the foreign levy a tax? 4 110
35.3.2. Is the tax a separate tax or part of a
broader tax? 4 112
35.3.3. Is the tax an income tax? 4 112
35.3.4. Taxes in lieu of an income tax 4 115
35.3.5. Who can claim the foreign taxcredit 4 116
35.3.6. What is the amount of the creditable
foreign income tax 4 117
35.4. Computing the Direct Credit 4 118
35.5. Computing the Indirect Credit 4 119
35.5.1. Overview 4 119
35.5.2. Minimum ownership requirements 4 120
35.5.3. Amount of tax deemed paid 4 121
35.6. Limitations on the Foreign Tax Credit 4 124
35.6.1. Overview 4 124
35.6.2. Separate baskets 4 127
35.6.2.1. Passive Income Basket 4 128
35.6.2.2. High withholding tax interest basket 4 129
35.6.2.3. Noncontrolled section 902 dividend
basket 4 131
35.6.2.4. Look through rules 4 133
35.6.3. Treatment of foreign losses 4 134
35.6.4. Treatment of U.S. losses 4 136
35.6.5. Tax credit source rules 4 137
35.7. Effect of Treaties on the Foreign Tax Credit 4 138
36. Intercompany Pricing 4 139
36.1. Overview 4 139
26.2. Application of §482 in General 4 141
36.3. Application of §482 to Specific Transactions 4 143
36.3.1. Sales 4 143
36.3.1.1 Comparable uncontrolled price method ... 4 145
36.3.1.2 Resale price method 4 146
36.3.1.3. Cost plus method 4 147
36.3.1.4. Comparable profits method 4 148
36.3.1.5. Profit split method 4 148
36.3.2. Services 4 150
36.3.3. Rentals of tangible property 4 151
xxüi
36.3.4. Licenses of intangible property 4 151
36.3.4.1. The comparable uncontrolled
transaction method 4 151
36.3.4.2. Comparable profit method 4 152
36.3.4.3. Profit split method 4 153
36.3.4.4. Other methods 4 153
36.3.4.5. Periodic adjustments 4 153
36.3.4.6. Identification of the developer 4 154
36.3.4.7. Cost sharing agreements 4 155
36.3.4.8. Round trip transactions 4 156
36.3.5 Loans 4 157
36.4. Comparable Profits Method 4 157
36.4.1. Methodology 4 158
36.4.2. Examples 4 158
36.5. Profit Split 4 161
36.6. The Interplay of §482 and Foreign Law 4 163
36.7. Other §482 Adjustments 4 166
36.8. Accuracy Related Penalty 4 167
36.9. Section 482 and the Foreign Tax Credit 4 168
36.10. Section 482 and U.S. Income Tax Treaties 4 169
36.11. Advance Pricing Agreements 4 169
36.12. Reporting Requirements for Related Taxpayers .... 4 171
37. Controlled Foreign Corporations and Related Provisions .... 4 175
37.1. Overview 4 175
37.2. Definitions: Controlled Foreign Corporation and
United States Shareholder 4 176
37.3. Income Taxable to Shareholders 4 177
37.3.1. Subpart F income 4 178
37.3.1.1. Foreign personal holding Company
income 4 178
37.3.1.2. Foreign base Company sales income 4 180
37.3.1.3. Foreign base Company Services income ... 4 184
37.3.1.4. Other foreign base Company income 4 185
37.3.1.5. Allocation of deductions 4 186
37.3.1.6. Relief provisions 4 186
37.3.1.7. Insurance income 4 187
37.3.2. Increase in earnings invested in U.S. property .. 4 188
37.4. Adjustments to Stock Basis 4 190
xxiv
37.5. Foreign Tax Gredit 4 190
37.6. Passive Foreign Investment Companies (PFICs) 4 192
37.7. Related Provisions 4 195
37.7.1 Gains from the sale of certain stock 4 196
37.7.2. Accumulated earnings tax provisions 4 197
37.7.3. Personal holding Company tax provisions 4 197
38. Foreign Currency 4 199
38.1. Overview 4 199
38.2. Functional Currency 4 202
38.3. Foreign Currency Transactions 4 203
38.3.1. Acquisition and disposition of foreign currency . 4 204
38.3.2. Lending and borrowing foreign currency 4 205
38.3.3. Acquisition and disposition of assets
denominated in foreign currency 4 206
38.3.4. Accounts receivable and payable 4 207
38.3.5. Forward, futures and Option contracts 4 208
38.3.6. Hedging 4 208
38.4. Foreign Currency Translation 4 210
38.4.1. Foreign branches 4 210
38.4.2. Foreign corporations 4 212
38.5. Treatment of Individuais 4 213
39. International Tax Free Transactions 4 215
39.1. Overview 4 215
39.2. Outbound Transactions 4 217
39.2.1. General rule 4 217
39.2.2. The active trade or busincss exception 4 219
39.2.3. The stock or securities exception 4 220
39.2.4. Treatment of liquidating corporation 4 222
39.2.6. Branch loss recapture rule 4 225
39.2.7. Transfers to estatcs, trusts and partnerships ... 4 226
39.3. Non Outbound Transactions 4 226
40. Tax Arbitrage and Economic Substance 4 231
40.1. Introduction 4 231
40.2. The Check The Box Regulations 4 233
40.3. A Tax Arbitrage Sampler 4 235
40.3.1. Hybrid entities 4 235
xxv
40.3.2. Hybrid Instruments 4 236
40.3.3. Cross border leasing 4 237
40.3.4. Dual Consolidated loses 4 239
40.4. U.S. Tax Authorities Response 4 240
41. Foreign Sales Corporations 4 243
41.1. Overview 4 243
40.2. FSG Qualification 4 244
40.3. Foreign Trade Income 4 245
40.3.1. Export related income 4 245
40.3.2. Foreign management 4 246
40.3.3. Foreign economic processes 4 246
40.4. Taxation of a FSG 4 248
41.5. Special Rules for Small Corporations 4 253
42. International Boycott and Foreign Bribery Provisions 4 255
42.1. Overview of International Boycott Provisions 4 255
42.2. Boycott Participation 4 256
42.3. Examples of Penalized Conduct 4 257
42.3.1. Discriminatory refusals to do business 4 257
42.3.2. Discriminatory hiring practices 4 258
42.5. Foreign Bribery Provisions 4 262
43. Estate and Gift Taxation for Resident and
Nonresident Aliens 4 265
43.1. The U.S. Estate Tax 4 265
43.1.1. Residency for estate, gift and generation
skipping tax purposes 4 266
43.1.2. Gross estate 4 267
43.1.2.1. U.S. real property 4 267
43.1.2.2. Tangible personal property 4 268
43.1.2.3. Intangible personal property 4 268
43.1.2.3.1. Shares of stock in a corporation .... 4 268
43.1.2.3.3. Debt obligations 4 269
43.1.2.3.4. Insurance policies, annuities and
choses in action 4 269
43.1.2.4. Certain lifetime transfers 4 269
43.1.3. Deductions used to determine taxable estate . . 4 269
43.1.4. Computation of estate tax 4 271
xxvi
43.1.5. Credits subtracted to determine tax due 4 271
43.2. The U.S. Gift Tax 4 272
43.2.1. Taxable transfers 4 272
43.2.2. Exclusions from gift tax 4 272
43.2.3. Computation of gift tax 4 273
43.3. The U.S. Generation Skipping Transfer Tax 4 273
43.3.1. Generation skipping transfers 4 274
43.3.2. Exemptions and deductions 4 275
43.3.3. Computation of generation skipping tax 4 275
43.3.4. Credits subtracted to determine tax due 4 275
43.4. U.S. Estate, Gift, and Generation Skipping
Transfer Tax Treaties 4 275
43.5. Foreign Trusts 4 276
43.5.1. Foreign trusts 4 276
43.5.2. Taxation of the creation of a foreign trust 4 277
43.5.3. Taxation of foreign trust income
and distributions 4 277
43.5.4. Foreign grantor trusts 4 278
Indexes
Index to Part 1 5 1
Index to Part 2 5 9
Index to Part 3 5 33
Index to Part 4 5 39
xxvii
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| spelling | Abrams, Howard E. Verfasser aut Essentials of United States taxation by Howard E. Abrams and Richard L. Doernberg The Hague [u.a.] Kluwer 1999 Getr. Zählung txt rdacontent n rdamedia nc rdacarrier Belastingrecht gtt Inkomstenbelasting gtt Internationaal belastingrecht gtt Vennootschapsbelasting gtt Multinationales Unternehmen Recht Steuer Corporations Taxation Law and legislation United States Income tax Law and legislation United States International business enterprises Taxation Law and legislation United States Partnership Taxation United States Tax administration and procedure United States Steuersystem (DE-588)4183215-2 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Steuersystem (DE-588)4183215-2 s DE-604 Doernberg, Richard L. Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008785308&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Abrams, Howard E. Doernberg, Richard L. Essentials of United States taxation Belastingrecht gtt Inkomstenbelasting gtt Internationaal belastingrecht gtt Vennootschapsbelasting gtt Multinationales Unternehmen Recht Steuer Corporations Taxation Law and legislation United States Income tax Law and legislation United States International business enterprises Taxation Law and legislation United States Partnership Taxation United States Tax administration and procedure United States Steuersystem (DE-588)4183215-2 gnd |
| subject_GND | (DE-588)4183215-2 (DE-588)4078704-7 |
| title | Essentials of United States taxation |
| title_auth | Essentials of United States taxation |
| title_exact_search | Essentials of United States taxation |
| title_full | Essentials of United States taxation by Howard E. Abrams and Richard L. Doernberg |
| title_fullStr | Essentials of United States taxation by Howard E. Abrams and Richard L. Doernberg |
| title_full_unstemmed | Essentials of United States taxation by Howard E. Abrams and Richard L. Doernberg |
| title_short | Essentials of United States taxation |
| title_sort | essentials of united states taxation |
| topic | Belastingrecht gtt Inkomstenbelasting gtt Internationaal belastingrecht gtt Vennootschapsbelasting gtt Multinationales Unternehmen Recht Steuer Corporations Taxation Law and legislation United States Income tax Law and legislation United States International business enterprises Taxation Law and legislation United States Partnership Taxation United States Tax administration and procedure United States Steuersystem (DE-588)4183215-2 gnd |
| topic_facet | Belastingrecht Inkomstenbelasting Internationaal belastingrecht Vennootschapsbelasting Multinationales Unternehmen Recht Steuer Corporations Taxation Law and legislation United States Income tax Law and legislation United States International business enterprises Taxation Law and legislation United States Partnership Taxation United States Tax administration and procedure United States Steuersystem USA |
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