The tax system of the United States is one of the most complex systems in the world. It has multiple levels such as federal tax, state tax, and local tax.
Federal, state, and local tax consequences can vary depending on the company’s registration, residence, and presence. Each jurisdiction can have different tax rates and tax treatments for various entity structures (C-corporations, S-corporations, and partnerships).
Many State and local level follows federal tax characterizations. Thus, it is important for international businesses as well as individual taxpayers to pay close attention to entity selection, treatment of dividends, partnership distributions, foreign tax credits, and characterization of taxable under U.S. tax law.
It is also vital to look at international law and treaties to prevent double taxation of the same income and reduce withholding tax on certain type of income.
THEVOZ Attorneys is comprised of attorney who are well versed both in U.S. and international tax law. Our attorney can provide tax advice to its clients who are doing business throughout the world and individual taxpayers with international assets in matters such as:
- Tax qualification of legal entity
- Sourcing rules
- Withholding tax
- Income tax treaty