Chapter 25 - Taxation of International Transactions - Quiz

Chapter 25 - Taxation of International Transactions - Quiz...

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Review Test Submission: Chapter 25 Quiz Content User Duyen Pham Submitted 4/3/11 8:52 PM Status Completed Score 20 out of 20 points Instructions Question 1 2 out of 2 points A foreign corporation, not resident in a treaty country, has a U.S. branch that earns effectively connected E & P of $4 million for the tax year and increases its investments in U.S. property (its U.S. net equity) by $1,600,000. It pays a U.S. corporate income tax of $2,153,846. Its branch profits tax is: Answer Selected Answer: b. $720,000. Correct Answer: b. $720,000. Question 2 2 out of 2 points
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shifting profits between related entities. Answer Selected Answer: False Correct Answer: False Question 3 2 out of 2 points All of an NRA’s U.S.-source income that is not effectively connected with a U.S. trade or business is subject to a flat U.S. income tax rate of 30% unless modified by a treaty. Answer
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Chapter 25 - Taxation of International Transactions - Quiz...

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