What are the primary types of state and local taxes

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Q1. What are the primary types of state and local taxes? How would a business determine if it has sales tax nexus and how would the business calculate its business sales tax withholding responsibilities? How would a business determine if it has income tax nexus and how would the business calculate its business income tax withholding responsibilities?

Q2. What is the basis US framework for taxing multinational transactions (i.e., explain outbound and inbound transactions)? What are the US source rules for common items of gross income and deductions? What is the role of income tax treaties in international tax planning? What is the computation for the foreign tax credit and what is the difference between allocation and apportionment in sourcing deductions in computing the foreign tax credit limitation? What are some advantages and disadvantages of the different forms of doing business outside of the US? What is the basic US anti-deferral tax regime and what are common sources of subpart F income?

Reference no: EM133162927

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