Corporate Tax Expenditures: Evaluations of Tax Deferrals and Graduated Tax Rates (Paperback) (ISBN-13: 9781502968067)

The United States taxes domestic corporations on their worldwide income, regardless of where it is earned, and provides credits for foreign income taxes paid. A U.S. parent corporation may directly or indirectly own multiple corporations, including both domestic and foreign subsidiaries. The U.S. taxes the worldwide income of U.S. corporations, whether earned domestically or abroad. However, the active business income earned by foreign subsidiaries is generally eligible for deferral from U.S. tax until it is distributed, usually in the form of dividends, to the U.S. parent corporation or other U.S. shareholders.

Author: Government Accountability Office
ISBN-10: 1502968061
ISBN-13: 9781502968067
Publisher: Createspace Independent Publishing Platform
Language: English
Published: 10/31/2014
Pages: 56
Format: Paperback
Weight: 0.25lbs
Size: 10.00h x 7.00w x 0.12d