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TAX LAW - ADÓJOG (demo)
TAX LAW - ADÓJOG (demo)
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MIRŐL SZÓL EZ A JOGSZABÁLY?
A company's taxable status depends on whether it is incorporated. A corporation is a taxable entiry, taxed on net profits at the corporate level. No deduction is permitted for corporate profits distributed as dividends to shareholders. Dividends are taxable to the shareholders as income, subject to certain dividends-received deductions allowable to corporate shareholders. A partnership or a sole proprietorship is not a taxable entity; items of income and loss are passed through and taxed dire...
TAX LAW - ADÓJOG (demo)
1. United States
1.1. Business Taxation
1.1.1. Domestic Corporations
A company's taxable status depends on whether it is incorporated. A corporation is a taxable entiry, taxed on net profits at the corporate level. No deduction is permitted for corporate profits distributed as dividends to shareholders. Dividends are taxable to the shareholders as income, subject to certain dividends-received deductions allowable to corporate shareholders. A partnership or a sole proprietorship is not a taxable entity; items of income and loss are passed through and taxed directly to the owners.Corporate taxable income generally is taxed twice in the United States: first to the corporation and then, if and when the corporate earnings are distributed, to its shareholders.
Gross Income
A domestic corporation is taxed on its worldwide income. Gross income for U.S. tax purposes is broadly defined as income from whatever source derived. Gross income is not, however, equivalent to gross receipts: gross receipts must be reduced by the cost of goods sold to arrive at gross income. Gross income can be reflected under several accounting methods, including the accrual method and, where appropriate, the cash receipts and disbursements method. Other methods are available for special situations (e.g. percentage of completion for long-term construction contracts). The method of accounting used for tax purposes generally may differ from that used for financial reporting purposes.Deductions
Once gross income is determined, allowable deductions are subtracted to arrive at taxable income. Generally, all ordinary and necessary expenses of earning income are deductible.Depreciation is calculated by ACRS (Accelerated Cost Recovery System). In lieu of these accelerated cost recovery deductions, taxpayers may irrevocably elect to claim straight-line ACRS deductions over the regular recovery period.
A deduction is available for state, local, and foreign taxes paid or accrued during the year incurred in carrying on a trade or business, including real property taxes, personal property taxes, and income taxes. If the foreign tax credit is claimed for the year, a deduction for foreign income taxes may not be claimed.
Interest paid or accrued generally is deductible except for certain types of interest to which special rules are applied.
Dividends-Received Deduction. A corporation generally is permitted to deduct 80 percent of the dividends received from a 20-pencent-owned domestic corporation. In certain cases this deduction is increased to 100 percent or decreased to 70 percent.
Charitable Deduction. A domestic corporation generally may deduct up to 10 percent of its taxable income, with adjustments, for charitable contributions to qualified U.S. charities. Excess charitable deductions can be carried over for five years.
Tax Rates
Taxable income (gross income less deductions) of a corporation is taxed at rates from 15 percent to 35 percent. A surtax of 5 percent is imposed on certain amounts of income.The tax is then reduced by allowable credits, such as the foreign tax credit and the research credit.
Most of the states also impose corporate income taxes.
1.1.2. Foreign Corporations
The income of foreign corporations is segregated into two categories, each of which is taxed separately:- Business Income: income related (i.e., effectively connected) to a business carried on in the United States.
- Nonbusiness Income: certain types of U.S. source investment and other passive income that are not effectively connected with a U.S. business.
Worldwide income effectively connected with the conduct of a trade or business in the United States is taxed on a net basis at the regular graduated rates. U.S. source nonbusiness income is taxed on a gross basis at a flat 30-percent rate (unless reduced or eliminated by statute or income tax treaty).
Foreign corporations that operate businesses in the United States may pay in addition to the regular corporate income tax, a branch profits tax equal to 30 percent of their effectively connected earnings (after regular tax) that are not reinvested in the United States. The application of this tax may be modified or eliminated by treaty.
Nonbusiness Income
Only certain types of nonbusiness income from U.S. sources are subject to U.S. tax. The principal types of this income are:- Fixed or determinable annual or periodical income (FDAP);
- Certain original issue discount on debt obligations when payments of principal or interest are received or when the obligations are sold;
- Certain gains from the disposal of timber, coal, or domestic iron ore; and
- Certain gains from the sale of patents and other intangible property to the extent the proceeds are contingent on the future productivity use, or disposition of the property.
Business Income
Trade or Business. The trade or business concept is an amorphous one, generally described as depending on the facts and circumstances of a particular case. A degree of activity in the United States that is regular and continuous, as opposed to one that is sporadic, is generally needed for a finding of trade or business status. Income tax treaties, however, generally exempt from taxation income arising from a U.S. trade or business unless the income is attributable to a U.S. permanent establishment (e.g., a U.S. branch).Moreover, the taxpayer's primary purpose for engaging in the activity must be for income or profit. An element also usually considered necessary to a finding of trade or business status is an income-producing transaction, such as a sale. The mere purchase of goods in the United States for sale elsewhere will not ordinarily be viewed as the conduct of a U.S. trade or business. If both the purchase and sale occur in the United States, however, a trade or business would probably be deemed to exist, even if the goods are destined for export.
Deductions
A foreign corporation generally is entitled to the same types of deductions that are allowable to a domestic corporation. However, in computing taxable income, a foreign corporation is allowed deductions only to the extent that they are connected to income effectively connected with the conduct of a trade or business in the United States.Credits and deductions are allowable to a corporation only if it files a U.S. corporation income tax return.
1.1.3. Dispositions of U.S. Real Property Interests
The Foreign Investment in Real Property Tax Act of 1980 (-FIRPTA) treats a foreign person's gain or loss from the disposition of a U.S. real property interest as if such gain or loss were effectively connected with a trade or business. Both nonrecognition relief and treaty relief are limited, and significant withholding requirements are imposed to assist tax collection.A U.S. real property interest (USRPI) generally includes any interest in real property located in the United States or in the U.S. Virgin Islands and any interest (other than solely as a creditor) in a domestic corporation that is or was a U.S. real property holding corporation (USRPHC).
1.1.4. Taxation of Foreign Currency Transactions
The Tax Reform Act of 1986 provided a comprehensive set of rules for the U.S. tax treatment of transactions involving foreign currency The act generally adopted the financial accounting concept of functional currency and requires all federal income tax determinations to be made in a taxpayer's functional currency U.S. corporations and U.S. branches operating in the United States generally have the U.S. dollar as their functional currency A taxpayer or a qualified business unit with a foreign functional currency must translate its income subject to U.S. tax into U.S. dollars at appropriate exchange rates.Foreign currency gains and losses attributable to certain transactions in a nonfunctional currency are calculated separately from any gains or losses on the underlying transactions and generally are taxable as ordinary income or losses.
1.1.5. Affiliated Groups
Certain affiliated corporations may elect to file a single, consolidated federal income tax return for all members of the affiliated group instead of filing separate income tax returns for each member. Filing one return for all members of the group is simply a tax computation mechanism and does not convert the group into a single corporation. Each member of the group is jointly and severally liable for the entire tax of the consolidated group.The basic advantages of filing a consolidated return are:
- The ability to apply a member's losses against the income of other members;
- The full exclusion of dividends from member corporations from taxable income; and
- Deferral of tax on income from intercompany transactions.
1.1.6. Relief from Losses
Net operating losses of the current year generally may be carried back 3 years and carried forward 15 years. A net operating loss is defined as the excess of the deductions permitted for a taxable year over the gross income of the taxpayer for that year. The net operating loss for the taxable year is carried first to the earliest year to which such loss may be carried and then to each succeeding year, and applied to the extent taxable income exists for each of those years.Limits are placed on the use of net operating loss carryovers of corporations after ownership changes resulting from taxable purchases of the corporation's stock and from certain tax-free reorganizations.
Limits are also imposed on the use of net operating losses generated by dual resident corporations.
1.1.7. Tax Credits
Domestic and foreign corporations are allowed certain credits, within limits, against their U.S. tax. These credits, unlike deductions, reduce the U.S. tax dollar for dollar. The major credits are:- The foreign tax credit, which is allowable within limits for foreign income taxes paid on foreign source income subject to U.S. tax;
- The targeted jobs credit, which is allowed to employers for certain wages paid to newly hired members of certain disadvantaged groups; and
- The research credit, which is allowable for qualifying U.S. research and experimentation expenditures.
1.1.8. Additional Taxes
Alternative Minimum Tax
A special 20-pencent alternative minimum tax (AMT) on a corporation's alternative minimum taxable income (AMTI), less an exemption amount. is imposed to the extent the tax so calculated exceeds the corporation's regular tax.Environmental Tax
An environmental tax is imposed on a corporation at 0.12 percent on the excess of its modified AMTI in excess of $ 2,000,000. The tax is one of several sources of funding for the Superfund, used to clean up hazardous wastes that have been released into the environment. The tax applies whether or not the corporation has AMT liability As a result of the Superfund tax, all large corporations will effectively be forced to compute and maintain AMT records, whether or not they are subject to AMT.Accumulated Earnings Tax
The accumulated earnings tax is a penalty tax imposed on corporations that accumulate earnings with a purpose to avoid taxes on shareholders. It is imposed on the accumulated taxable income at a rate of 39.6 percent of the accumulated taxable income. Accumulated taxable income is defined as taxable income of the corporation with special adjustments and reduced by the current earnings that are retained for the reasonable needs of the business.Personal Holding Company Tax
An additional tax of 39.6 percent is imposed on the undistributed personal holding company income of a personal holding company This type of company is a domestic or foreign corporation of which more than 50 percent of the value is owned by five or fewer individuals and of which more than 60 percent of the adjusted ordinary gross income is personal holding company income.Tartalomjegyzék
1. United States
1.1. Business Taxation1.1.1. Domestic Corporations
1.1.2. Foreign Corporations
1.1.3. Dispositions of U.S. Real Property Interests
1.1.4. Taxation of Foreign Currency Transactions
1.1.5. Affiliated Groups
1.1.6. Relief from Losses
1.1.7. Tax Credits
1.1.8. Additional Taxes
1.1.9. Allocation of Income and Expenses Among Related Persons
1.1.10. Payroll Taxes
1.1.11. Special Corporations
1.2. Indirect Taxation
1.2.1. Federal Excise Taxes
1.2.2. State and Local Indirect Taxes
1.3. Taxation of Individuals
1.3.1. Taxable Income of Residents
1.3.2. Taxable Income of Nonresident Aliens
1.3.3. Estate and Gift Taxes
2. United Kingdom
2.1. Business Taxation2.1.1. Corporations
2.1.2. Taxation of non-corporate entities
2.1.3. Taxation of profits and gains
2.1.4. Groups and consortia
2.1.5. Losses
2.1.6. Capital gains
2.1.7. Relief for foreign taxes
2.1.8. Transfer pricing
2.1.9. Withholding taxes
2.2. Indirect Taxation
2.3. Taxation of individuals
2.3.1. Taxable Income
2.3.2. Taxation of capital gains
2.3.3. Inheritance tax
* * *
1. Amerikai Egyesült Államok
1.1 Vállalkozások adózása1.1.1. Belföldi tőketársaságok
1.1.2. Külföldi tőketársaságok
1.1.3. Amerikai ingatlanbefektetések értékesítése
1.1.4. A külföldi pénznemben bonyolított ügyletek adóztatása
1.1.5. Vállalatcsoportok
1.1.6. Veszteségek elhatárolása
1.1.7. Adójóváírások
1.1.8. További adókötelezettségek
1.1.9. A bevételek és költségek elszámolása kapcsolt vállalkozások között
1.1.10. Bérjárulékok
1.1.11. Különleges tőketársaságok
1.2. Közvetett adózás
1.2.1. Központi fogyasztási adó
1.2.2. Állami és helyi közvetett adók
1.3. Magánszemélyek adózása
1.3.1. Belföldi személyek adóköteles jövedelme
1.3.2. Állandó lakóhellyel nem rendelkező külföldiek adóköteles jövedelme
1.3.3. Örökösödési és ajándékozási adók
2. Egyesült Királyság
2.1. Vállalkozások adózása2.1.1. Tőketársaságok
2.1.2. Be nem jegyzett társaságok adózása
3. Magyarország
3.1. Bevezetés3.1.1. Általános megjegyzések
3.2. Magánszemélyek adózása
3.3. A szervezetek adózása
3.4. Általános forgalmi adó