Jacque, a single nonresident alien, is in the United States for 80 days in the current year engaging in the conduct of a U.S. trade or business. Jacque has $75,000 of sales income earned while in the United States and $30,000 of non-U.S. sales income earned while he was outside the United States. How will the income be taxed and how will the tax be collected?
What will be an ideal response?
The $30,000 of non-U.S. sales commissions are exempt from U.S. taxation. The $75,000 of U.S. sales commissions are taxed as being effectively connected with the conduct of a U.S. trade or business. This amount can be reduced by any business expenses and itemized deductions incurred and by a single personal exemption. The taxable income is taxed at the rates applicable to a single taxpayer and collected through estimated tax payments.
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A. Sustainability B. Philanthropy C. Cause marketing D. Creative ethics E. International ethics
Members of limited liability companies have no right to vote on who should manage their companies
Indicate whether the statement is true or false
Mariah invested $10,000 in a bank certificate of deposit at a rate of 5% interest compounded annually for three years. ? ?The total amount of interest compounded over the three years is $1,500
Indicate whether the statement is true or false