A tax concept that posits income earned by corporations is taxed at the corporate level and should not be subject to taxation again when distributed as dividends to stockholders, thereby avoiding double taxation of the same income.
Double Taxation refers to the process under federal tax law where earnings are taxed at the corporate level and then taxed again as dividends of stockholders.
A limited partnership is a type of business entity in which at least one partner (the general partner) manages the business and is personally liable for the debts, while other partners (limited partners) contribute capital and have limited liability.
Quick-succession relief is designed to prevent the severe double taxation of inheritance tax on the same property within a short timeline — specifically when two related individuals pass away within five years of each other.
A Real Estate Mortgage Investment Conduit (REMIC) is a pass-through entity designed to issue multiclass mortgage-backed securities, adhering to qualifications established under the Tax Reform Act of 1986 to avoid double taxation.
A Regulated Investment Company (RIC), such as a mutual fund or Real Estate Investment Trust (REIT), is eligible under Regulation M of the Internal Revenue Service to pass capital gains, dividends, and interest earned on fund investments directly to its shareholders to be taxed at the personal level, thereby avoiding double taxation on corporations and stockholders.
An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) requirements allowing the company's income, losses, deductions, and credits to be passed through to shareholders for federal tax purposes.
Tax treaties are agreements negotiated between two or more countries to avoid double taxation of income earned in one country by residents of another and to prevent tax evasion.
An agreement between two countries that specifies how income, profits, or gains are taxed to prevent double taxation and provide tax relief.
Unilateral relief is a measure taken by the UK authorities to provide relief against double taxation for taxes paid in a country with which the UK does not have a double-taxation agreement.
