International Applications of U.S. Income Tax Law: Inbound and Outbound Transactions / Edition 1

Hardcover (Print)
Used and New from Other Sellers
Used and New from Other Sellers
from $4.95
Usually ships in 1-2 business days
(Save 97%)
Other sellers (Hardcover)
  • All (12) from $4.95   
  • New (7) from $104.95   
  • Used (5) from $4.95   

Overview

A clear, concise explanation of United States tax law’s international aspects

Foreign investments in U.S. real estate and business have reached an estimated $1.8 trillion, with daily capital flows into and out of the country now exceeding $14 billion. As continuing globalization increases transactions across the U.S. border, more and more tax professionals must come to grips with international tax issues. Failure to do so may result in overlooked benefits or, even worse, inadvertent stumbles into tax pitfalls. International Applications of U.S. Income Tax Law: Inbound and Outbound Transactions provides practitioners with the understanding of tax, accounting, and legal issues necessary for operation in this special arena.

This text gives readers a practical explanation, going beyond legal terminology to clarify how rules affect taxpayers and provide incentives. In tackling a sometimes thorny set of laws and treaties, international tax expert Ernest Larkins emphasizes their economic effects, showing how to avoid hazards while reaping rewards which often go ignored. Coverage includes:

  • Special issues arising when a foreign person invests in U.S. real estate, as well as the best structures for holding such real estate
  • What a controlled foreign corporation is and what consequences result from this status
  • Acceptable transfer pricing methods and what penalties apply when taxpayers do not follow arm’s-length principles

International Applications of U.S. Income Tax Law also contains many useful tools which allow readers to build understanding through practice, as well as formulate and solve the complex problems international taxes can present. Marginal tax rate analyses demonstrate the aggregate economic effects of legal rules. Empirical evidence presents tax law changes and the managerial reaction of multinational companies. Key cases and numerous examples apply points of law discussed in the text, many using foreign tax laws to illustrate application of U.S. provisions. Flowcharts, table comparisons, and exhibits help visualize major concepts.

Clearly organized and full of practical guidance for working with international tax laws, International Applications of U.S. Income Tax Law is an essential guidebook for accounting, tax, and legal practitioners in the United States or abroad.

Read More Show Less

Editorial Reviews

Steve McLeighton
Dr. Larkins has created a concise and easy-to-read summary of the essentials of international taxation. His text offers valuable insights and observations into many of the issues and topics that surface frequently in practice. The book's practical examples and citations make it a helpful summary for the beginner as well as the more experienced practitioner. (Partner, International Corporate Tax Services,KPMG, LLP)
Thomas M. Porcano
International Applications of U.S. Income Tax Law is an excellent addition to the international taxation literature. The book deals with an extremely important and complex area, and does an excellent job of making it understandable. Larkins provides an overview of the issues, a discussion of inbound and outbound transactions, and a discussion of major areas of concern in international taxation. The book also provides numerous tax planning and tax policy perspectives. International Applications of U.S. Income Tax Law is unique from other books in this area because it contains numerous examples, marginal tax rate analysis when applicable, and links to empirical studies involving issues in international taxation. It is an excellent text but also an excellent reference book. (Arthur Andersen Alumni Professor of Accountancy, Miami University)
Theodore Kresge Jr.
Larkins' text presents all the subject areas necessary to understand the U.S. tax rules affecting foreign persons investing in the United States and U.S. persons investing overseas. The text will benefit experienced international tax practitioners as well as tax generalists seeking to learn about the international aspects of the U.S. income tax law. The illustrations are particularly useful in enabling readers to advise clients how to achieve their tax objectives and how to avoid unintended pitfalls. (Retired International Tax Partner, PricewaterhouseCoopers )
PhD Gary McGill, PhD
Professor Larkins provides a lucid and informative guide to the international provisions of U.S. tax law. The text is an effective learning tool in both substance and style and is equally useful for students being introduced to international tax for the first time or professionals seeking a concise reference guide. (PricewaterhouseCoopers Term Professor, University of Florida)
Read More Show Less

Product Details

  • ISBN-13: 9780471464495
  • Publisher: Wiley
  • Publication date: 11/17/2003
  • Series: Wiley Finance Series
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 456
  • Product dimensions: 9.21 (w) x 6.14 (h) x 1.06 (d)

Meet the Author

Ernest R. Larkins is the E. Harold Stokes/KPMG Professor of Accounting at Georgia State University, where he teaches graduate courses in federal tax research and international taxation. He has published approximately 100 articles in various academic, law, and professional journals, as well as several chapters in books and monographs. He has received research fellowships from the Australian Taxation Studies Program (ATAX), University of New South Wales, and, for work conducted in Russia, the Society of International Business Fellows. He is an active member of the American Accounting Association and the American Taxation Association.

Read More Show Less

Table of Contents

Preface.

PART ONE: Generic Topics.

CHAPTER 1: Policy and Overview.

International Tax Policy.

Entity Selection.

Generic Topics.

Inbound Transactions.

Outbound Transactions.

Related Person Transactions.

CHAPTER 2: Jurisdiction to Tax.

Tale of Two Systems.

U.S. Jurisdiction.

Double Taxation.

CHAPTER 3: Income Tax Treaties.

Treaty Creation and Authority.

Treaty Scope.

Personal Service Income.

Business Profit.

Investment Income.

Gain from Dispositions.

Special Clauses.

CHAPTER 4: Source of Income.

Fundamental Importance.

General Source Rules.

Interest Income.

Dividend Income.

Personal Service Income.

Rent and Royalty Income.

Gain from Selling Property.

Other Source Rules.

CHAPTER 5: Allocation and Apportionment.

Allocation to Classes.

Apportionment to Groupings.

Interest Deductions.

Research and Experimental Deductions.

Other Deductions.

PART TWO: Inbound Transactions.

CHAPTER 6: Foreign Persons.

Residency Tests.

Counting Days.

Dual Status Aliens.

Important Elections.

CHAPTER 7: Nonbusiness Income.

Fixed or Determinable, Annual or Periodical Income.

Marginal Tax Rates.

Nonbusiness Exemptions.

Interest Stripping.

CHAPTER 8: Business Income.

U.S. Trade or Business.

Effectively Connected Income.

Business Exemptions.

Income Tax Calculations.

CHAPTER 9: Real Property Gains.

U.S. Real Property Interests.

U.S. Real Property Holding Corporations.

Withholding Procedures.

Structures for Holding U.S. Real Estate.

CHAPTER 10: Branch Taxes.

Branch Profits Tax.

Marginal Tax Rates.

Branch Interest Tax.

PART THREE: Outbound Transactions.

CHAPTER 11: Foreign Tax Credit.

Creditable Taxes.

Deemed Paid Taxes.

Limitation Formula.

Tax-Sparing Credit.

CHAPTER 12: Controlled Foreign Corporations.

CFCs and U.S. Shareholders.

Subpart F Income.

Earnings Invested in U.S. Property.

Constructive Dividends.

CHAPTER 13: Other Antideferral Provisions.

Passive Foreign Investment Companies.

Qualified Electing Funds.

Foreign Personal Holding Companies.

CHAPTER 14: Export Incentives.

Extraterritorial Income Exclusion.

Domestic International Sales Corporations.

CHAPTER 15: U.S. Individuals Abroad.

Foreign Earned Income Exclusion.

Income Sourced in U.S. Possessions.

Social Security Concerns.

PART FOUR: Related Person Transactions.

CHAPTER 16: Transfer Prices.

General Principles.

Loan of Funds.

Performance of Services.

Rental of Tangible Property.

Sale or License of Intangible Property.

Sale of Tangible Property.

Valuation Misstatements.

Advance Pricing Agreements.

CHAPTER 17: Asset Transfers.

Outbound Asset Transfers.

Inbound Asset Transfers.

External Asset Transfers.

Glossary.

Table of Statutes.

Table of Regulations.

Table of Cases.

Table of Rulings.

Index.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)