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McGraw-Hill's Taxation of Business Entities 3rd Edition by Connie Weaver, Brian Spilker, Edmund Outslay, John Robinson, Ronald Worsham, Benjamin Ayers, John Barrick
Edition 3ISBN: 9780077924522McGraw-Hill's Taxation of Business Entities 3rd Edition by Connie Weaver, Brian Spilker, Edmund Outslay, John Robinson, Ronald Worsham, Benjamin Ayers, John Barrick
Edition 3ISBN: 9780077924522 Exercise 59
Colleen is a citizen and bona fide resident of Ireland. During 2011, she received the following income:
• Cash dividends of $2,000 from a U.S. corporation's stock.
• Interest of $1,000 on a U.S. corporation bond.• Royalty of $100,000 from a U.S. corporation for use of a patent she developed.• Rent of $3,000 from U.S. individuals renting her cottage in Maine.
Identify the U.S. withholding tax rate on the payment of each item of income under the U.S.-Ireland income tax treaty and cite the appropriate treaty article. You can access the 1997 U.S.-Ireland income tax treaty on the IRS Web site, www.irs.gov
• Cash dividends of $2,000 from a U.S. corporation's stock.
• Interest of $1,000 on a U.S. corporation bond.• Royalty of $100,000 from a U.S. corporation for use of a patent she developed.• Rent of $3,000 from U.S. individuals renting her cottage in Maine.
Identify the U.S. withholding tax rate on the payment of each item of income under the U.S.-Ireland income tax treaty and cite the appropriate treaty article. You can access the 1997 U.S.-Ireland income tax treaty on the IRS Web site, www.irs.gov
Explanation
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McGraw-Hill's Taxation of Business Entities 3rd Edition by Connie Weaver, Brian Spilker, Edmund Outslay, John Robinson, Ronald Worsham, Benjamin Ayers, John Barrick
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