Sentences with phrase «income tax purposes from»

Not exact matches

Based on these numbers, the insanely rich aren't using that many loopholes to shield income from taxes, since all the data is based on reported income for tax purposes.

If we pay distributions on our common stock, those distributions generally will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

As discussed above, notwithstanding receipt by HP Co. of a private letter ruling from the IRS and / or opinions of counsel and other external tax advisors, the IRS could assert that the distribution does not qualify for tax - free treatment for U.S. federal income tax purposes.

It is a condition to the distribution that HP Co. receive (i) a private letter ruling from the IRS and / or one or more opinions from its external tax advisors, in each case, satisfactory to HP Co.'s board of directors, regarding certain U.S. federal income tax matters relating to the separation and related transactions, and (ii) an opinion of each of Wachtell, Lipton, Rosen & Katz and Skadden, Arps, Slate, Meagher & Flom LLP, satisfactory to HP Co.'s board of directors, regarding the qualification of the distribution, together with certain related transactions, as a transaction that is generally tax - free, for U.S. federal income tax purposes, under Sections 355 and 368 (a)(1)(D) of the Code.

However, if we do make distributions on our Class A common stock, those payments will constitute dividends for U.S. tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

In all foreign countries except Canada, we operate through legal entities disregarded for U.S. income tax purposes, and are subject to income tax in both the local country and the U.S. Unremitted earnings from our Canadian subsidiary, which are intended to be permanently reinvested outside the U.S., are not material.

Our effective tax rate differs from statutory rates primarily due to our pass - through entity structure for U.S. income tax purposes, while being treated as taxable in certain states and various foreign countries as well as for certain subsidiaries.

In all foreign countries except Canada, we operate through legal entities disregarded for U.S. income tax purposes, and are subject to income tax in both the local country and the U.S. Unremitted earnings from our Canadian subsidiary, which we intend to permanently reinvest outside the U.S., are not material.

@Vince If you are French resident for tax purposes, I would have thought you would be liable for French income tax on all investment income, including dividends from UK investments.

Taxes: Investors should note that even though the dividends are reinvested and that no cash from the dividends was paid to the investor, for federal income tax purposes, the investor will be treated as having received dividend income on the dividend payment date.

The potential tax benefits from investing in MLPs depend on their being treated as partnerships for federal income tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value.

For the purpose of evaluating Medicare tax exposure, it's important to know that «unearned» net investment income includes net rental income, dividends, taxable interest, net capital gains from the sale of investments (including second homes and rental properties), royalties, passive income from investments in which you do not actively participate (such as a partnership), and the taxable portion of nonqualified annuity payments.

• the Trust fails to qualify for treatment, or ceases to be treated, as a grantor trust for US federal income tax purposes, and the Trustee receives notice from the Sponsor that the Sponsor determines that, because of that tax treatment or change in tax treatment, termination of the Trust is advisable;

the Trust fails to qualify for treatment, or ceases to be treated, as a grantor trust for US federal income tax purposes, and the Trustee receives notice from the Sponsor that, because of that tax treatment or change in tax treatment, termination of the Trust is advisable;

If you are employed by a congregation for a salary, you are generally a common - law employee and income from the exercise of your ministry is considered wages for income tax purposes.

Nixon's campaign said her true income was about $ 1 million in 2017, noting that the overall figure of $ 1.5 million does not reflect some expenses incurred by Nixon's corporation, while it does include receipts from the sales of securities which are not classified as income for tax purposes.

Since contributions would be both deductible and trigger the credit, the effective credit would be between 91 percent and 94 percent.31 This proposal provides relief from the SALT cap because the contribution can be deducted from income for federal tax purposes, just as the State and local tax was prior to TCJA.

This is intended to be helpful but it is still very important that you check the income figure shown on the notice is correct for tax credit purposes and that may be different from the income figure provided through HMRC's RTI records.

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

On average, the federal government contributes about 10 percent to the total amount spent on public education, but these dollars account for a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned land.

Remember that all income from self publishing — even from digital products such as ebooks — will need to be reported as income for tax purposes and may be subject to sales taxes as well.

Please refer to the Form 1099 - MISC or 1042 - S you may receive from Archway Publishing to learn the amount of money that has been reported as royalty income (and withholding) for tax filing purposes.

Most of the time, those reimbursement funds can be excluded from your income for tax purposes.

The purpose of transferring the income from one person to another is to save on taxes.

Unemployment is taxable income for federal tax purposes, while Social Security is only taxable if your income from certain sources exceeds a specified threshold.

If you claim a dependent for tax purposes, the IRS allows a valuable exemption that allows you to subtract the exemption amount from your gross income.

The adjustments of principal are considered income for tax purposes, although investors do not receive the adjustments, but instead receive the coupons that result from them.

For example, if you pay for health insurance through your employer, or make 401k contributions, that premium is typically excluded from your income for purposes of computing income taxes

These accounts shelter returns from after - tax income, assisting Canadians in supplementing RRSP savings for retirement and other purposes.

The form also shows how much, if any, was withheld from your benefit payments for federal income tax purposes.

Income from annuities that are provided as part of a qualified retirement plan isn't treated as investment income for this purpose, though, so it escapes the added 3.8 Income from annuities that are provided as part of a qualified retirement plan isn't treated as investment income for this purpose, though, so it escapes the added 3.8 income for this purpose, though, so it escapes the added 3.8 % tax.

Encana Corporation hereby advises all shareholders that, effective from January 1, 2006, all dividends paid on its common shares will be designated as «eligible dividends» for Canadian income tax purposes.

Income from pensions, 401k plans, IRAs and other qualified retirement plans is excluded from the definition of investment income for purposes of thiIncome from pensions, 401k plans, IRAs and other qualified retirement plans is excluded from the definition of investment income for purposes of thiincome for purposes of this tax.

Passive income: For tax purposes, income from direct investments in a business venture by an investor who does not actively participate in management, such as income from limited partnerships.

Crossover: The point at which the partnership goes from showing losses for tax purposes to showing income.

I claim an employee and partner GST / HST rebate for the GST / HST paid on expenses deducted from my employment income for income tax purposes.

If the bond is redeemed for the purpose of funding a college education, the interest is exempt from federal income tax.

If an individual receives income from interest, dividends, pension proceeds, social security or unemployment benefits, alimony or child support, these do not count as earned income for purposes of the tax credit.

Any distributions resulting from such gains will be considered ordinary income for federal income tax purposes.

For federal tax purposes, the multiple income streams from a land contract are all treated differently.

Taxes: Investors should note that even though the dividends are reinvested and that no cash from the dividends was paid to the investor, for federal income tax purposes, the investor will be treated as having received dividend income on the dividend payment date.

A TFSA account seems excellent for the purpose in starting out since, with few exceptions, the income (specifically, as I understand it, the capital gain earnings from selling stock) is not taxed, and I am not likely to hit even the yearly contribution limit soon.

Another weird thing: Any penalties you have to pay on your CD can be deducted from your income for US federal income tax purposes.

Your full IRA contributions can always be deducted from your income for tax purposes if you are not covered by a retirement plan at work.

If you withdraw money early (before age 59-1/2) from a tax - deferred retirement account, you'll owe the IRS income tax on the amount withdrawn at your normal marginal income tax rate PLUS — unless the money's for an «allowed purpose «-- a 10 percentage point penalty.

Tax - free on the other hand implies income that is not taxable in the hands of investors i.e. the income from such tax - free source is not included in the total income for the purpose of computation of total tax liabiliTax - free on the other hand implies income that is not taxable in the hands of investors i.e. the income from such tax - free source is not included in the total income for the purpose of computation of total tax liabilitax - free source is not included in the total income for the purpose of computation of total tax liabilitax liability.

The number one perk of these savings accounts is that the earnings from the investment as well as any withdrawals from the account are not taxable for federal income tax purposes.

From 1 July 2017, individuals will generally be liable to pay Division 293 tax if their income for surcharge purposes (disregarding their reportable super contributions) and their low - tax contributions are greater than $ 250,000.

However, since they are completed transfers, the assets and the appreciation on any income earned by the assets are excluded from the transferor's estate for estate tax purposes.

Because the investment income within, and withdrawals from, a TFSA will not be taxable, interest on money borrowed to invest in a TFSA will not be deductible in computing income for tax purposes.