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Borderline Case International Tax Policy, Corporate Research and Development, and Investment (1997) / Chapter Skim
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GLOSSARY
Pages 147-150

The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.


From page 147...
... Alternative incremental research and experimentation credit: An alternative method a taxpayer may elect to use in calculating the research and experimentation tax credit, based on comparing certain percentages of qualified research expense to certain percentages of average annual gross receipts.
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From page 148...
... Foreign tax credit limitation: To avoid the claiming of foreign tax credits against domestic U.S. income, the United States limits foreign tax credits generally to either lower taxes paid to foreign jurisdictions or an amount equal to the U.S.
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From page 149...
... Residence basis: A national tax system, such as that of the United States, in which resident individuals and corporations are taxed on income earned abroad as well as domestically. In such countries, double taxation is avoided typically by granting a credit for taxes paid to the foreign jurisdiction in which the income is earned, which is considered to be the "primary" taxing jurisdiction.
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From page 150...
... : The section of the Internal Revenue Code that creates separate foreign tax credit limitations for separate categories or "baskets" of income, such as active income, passive income, financial services income, and several other categories of income. Section 904(g)
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Key Terms

  • tax credit
  • income tax
  • tax credits
  • tax rate
  • income earned

  • revenue code
  • internal revenue
  • credit limitation
  • foreign source
  • consumption tax

  • foreign jurisdictions
  • double taxation
  • taxes paid
  • corporate income
  • passive income

  • tax base
  • excess limitation
  • foreign sales
  • excessive passive
  • capital income

  • regular corporate
  • marginal tax
  • avoid double
  • national consumption
  • retail sales

  • source income
  • rate multiplied
  • passive assets
  • credit limitations
  • foreign corporation


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