United States — Orbitax Country Chapters

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United States — Orbitax Country Chapters

Table of Contents

ABOUT THE AUTHOR

LIST OF ABBREVIATIONS

1. FORMS OF DOING BUSINESS

1.1. Main Forms of Doing Business with a Legal Presence

1.1.1. Main Forms of Doing Business

1.1.1.1. Specific Uses of Available Legal Entities

1.1.1.2. Specific Constraints of Available Legal Entities

1.1.1.3. Types of Partnerships and Hybrid Entities Available for International Business / Structuring

2.1. Main Formation Requirements

2.2. Tax Consequence of Contributions

3. CORPORATE RESIDENCE

3.1. Corporate Tax Residence

3.2. Practical Aspects of Tax Residence

3.3. Potential Exclusion from Treaty Benefits for Failure to Meet Residence Test

3.4. Potential Loss of Tax Residence Status by Domestic Entities

3.5. Potential Acquisition of Tax Residence Status by Foreign Entities

3.6. Deemed Acquisition of Tax Residence Status by Foreign Entities

3.7. Tax Consequences of Acquisition or Loss of Tax Residence

3.8. Specific (Deemed) Residence Rules for Partnerships, Hybrid and Specific Other Entities

4. PERMANENT ESTABLISHMENTS

4.1. Foreign PE of a Domestic Entity

4.2. Domestic PE of a Foreign Entity

4.3. PE Force of Attraction Principle

4.4. Branch Profit (Deemed) Remittance Tax

4.5. PE Risk Grid for Foreign Entities Involved in Business Activities

5.1. Tax Base for Resident Entities

5.2. Treatment of Foreign Profits / Losses

5.3. Tax Consolidation / Group Treatment

5.4. Tax Base for Non-Resident Entities

5.5. Source Rules with Respect to Income Derived by Non-Residents

5.6. Qualification of Specific Income Categories for Tax Purposes

6. DETERMINATION OF TAXABLE INCOME

6.1. Main Rules Governing the Determination of Taxable Income

6.2. Main Differences between Commercial and Tax Accounting

6.3. Depreciation and Amortization

6.4. Reserves and Provisions

6.5. Deduction of Cross-Border Payments and Non-Deductible Expenses

6.6. Excluded and Segregated Income

8.1.1. Other Taxes

8.2. Non-Residents

8.2.1. Corporate/Profit Taxes

8.2.2. Withholding Taxes

8.2.2.1. Withholding Tax Rate Determination

8.2.2.1.1. FDAP Income Withholding

8.2.2.1.2. Withholding Applicable to Partnerships, Trust & Estates

8.2.2.1.3. Withholding under FIRPTA for US Real Property Interests

8.2.2.1.4. Entertainment and Athletes

8.2.2.1.5. Gambling Winnings

8.2.2.1.6. Alimony

8.2.2.1.7. Pensions and Annuities

8.2.2.1.8. Scholarship and Fellowship Income

8.2.2.1.9. Foreign Account Taxpayer Compliance Act (FATCA)

8.3. Exit Strategies

9. FOREIGN TAX CREDITS

9.1. Direct Foreign Tax Credit

9.2. Indirect (deemed-paid) Foreign Tax Credit

10. INCENTIVES AND SPECIAL REGIMES

10.1. Holding Regimes

10.2. Financing Regimes

10.3. Intellectual Property Management Regimes

10.4. Specific Regimes

10.5. Incentives

11. BUSINESS TRANSFORMATION AND RE-ORGANIZATION

11.1. Direct and Indirect Tax Consequences of Re-Organizations

11.2. Tax Consequence of Business Emigration, Corporate Inversions and the Cessation of Business

12. VAT ON INTERNATIONAL TRANSACTIONS

13. BASE PROTECTION AND ANTI-AVOIDANCE MEASURES

13.1. GAAR and General Anti-Avoidance Measures

13.2. Thin-capitalization and other Restrictions to Interest Deduction

13.3. CFC and Similar Regimes

13.4. Transfer Pricing

13.4.1. Main Rules

13.4.2. Specific TP Issues

13.4.3. Documentation Requirements

13.4.4. APAs and Dispute Resolution Mechanisms

13.5. Other Anti-Avoidance Rules

14. TAX MANAGEMENT AND COMPLIANCE

14.1. Books and Records

14.2. Type of Assessment

14.3. Calendar of Important Compliance Events

14.4. Tax Audits

14.4.1. Audit Process

14.4.2. Statute of Limitations

14.5. Interest and Penalties

14.6. Interest Compensation for Overpayment of Tax

14.7. Appeal Procedures

3.8. Specific (Deemed) Residence Rules for Partnerships, Hybrid and Specific Other Entities

Any entity organized or formed in one of the fifty states or District of Columbia will be an actu...