Which of the following income of a foreign corporation is not subject to the regular U.S. corporate income tax rates? A. Net long-term capital gains for which no U.S. trade or business exists. B. Capital gains effectively connected with a U.S. trade or business. C. Interest income effectively connected with a U.S. trade or business. D. FIRPTA gains.
Which of the following income of a foreign corporation is not subject to the regular U.S. corporate income tax rates? A. Net long-term capital gains for which no U.S. trade or business exists. B. Capital gains effectively connected with a U.S. trade or business. C. Interest income effectively connected with a U.S. trade or business. D. FIRPTA gains.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the following income of a foreign corporation is not subject to the regular U.S. corporate income tax rates?
A. Net long-term
B. Capital gains effectively connected with a U.S. trade or business.
C. Interest income effectively connected with a U.S. trade or business.
D. FIRPTA gains.
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