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Tag Archive for Corporate

Canada Tax Help – Learn About A Schedule 20

What is a schedule 20 as part of a T2 corporate tax return?

Schedule 20 is used to calculate an additional tax on non-resident corporations. This tax is called Part 14 or ‘branch’ tax and relates to non-resident corporations that earn income from a business carried on in Canada (see International FAQ #24) and have a permanent establishment in Canada (see FAQ #127). Read more

Plan For Changes In A Corporate Tax Department Every Year, Smart Management

For many of you who have been following my tax search expertise for years, you know that my background is in helping tax professionals and tax organizations be more successful. This is precisely why I built… to continue to help tax professionals promote their tax expertise worldwide. Thousands of members from more than 100 countries are now utilizing TaxConnections to build tax brand identity, attract new clients, identify staff and consultants for their tax departments, and find a wide range of tax expertise around the world. I also know large tax organizations turnover at the rate of 25%-30% a year so tax executives leading tax organizations today must constantly be prepared for the inevitable changes.

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Canada Tax FAQs – What Is A Schedule 91?

Grant Gilmour

What is a schedule 91 as part of a T2 corporate tax return?

Schedule 91 is for non-resident corporations that carried on business in Canada or disposal of taxable Canadian property in Canada that was treaty-protected any time in the year.

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3 Vital Multi-State Tax Facts For SaaS Companies

Monika Miles

Last week, we discussed various multi-state tax issues software companies often overlook. This week we look at another industry that often misses sales and use tax ramifications on their sales: Software-as-a-Service (SaaS). Many think that because it’s not a tangible product or even clearly defined as a service (at least according to traditional definitions), these companies don’t need to worry about state sales tax. Keep reading to find out why this could be a costly mistake.

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Tax Implications Of Declaring A Management Bonus At Year End

Grant Gilmour

If your corporation has had a profitable year and your corporate year end is July or later in the calendar year, you may wish to declare a management bonus to defer some of the taxes to the next year, or to reduce income to a level of corporate tax you are comfortable with. The small business tax rate limit, for example.

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Internships A to Z

College and high school students are frequently utilized by businesses and non-profit organizations as interns. These arrangements can be beneficial to the organization as the organization may get the services and insights from the intern, even though the organization receives no immediate tangible benefit. The intern may benefit by obtaining valuable on-the-job training, an entree into a permanent job, college credit, and maybe a few dollars in earnings. Internships vary greatly. They may be paid or unpaid; for college credit or not for credit; highly structured as in a college program, or an independent arrangement with less structure. Read more

Attention! Corporate Multinational Tax Departments – The Tax Provision (ASC 740/FAS 109)

Corporate Multinational Tax Departments


Gather in your conference rooms or at your desks to watch this presentation from Shamen Dugger at TaxConnections Internet Tax Summit on Tuesday, September 22, 2015 at 8:00AM (PST).  Learn from this tax expert about Tax Provision (ASC 740/FAS 109).

Introducing Tax Expert:                      (See Video Below)
Shamen Dugger, McGladrey LLP, San Francisco and San Jose, CA


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Canada-US Cross-Border Tax Issues When Winding-Up a Subsidiary

Canadian corporations form US Subsidiaries, and US Corporations form Canadian Subsidiaries, all the time.

What are the cross-border tax implications when those subsidiaries are wound-up? This article will provide an overview of those implications.

Winding-up a US Subsidiary (“USco”) of a Canadian Corporation (“Canco”)

For US tax purposes, proceeds received on the wind-up of USco are generally not treated as a dividend, and hence no U.S. withholding tax should apply.

Rather, such amounts would generally represent proceeds from the shares which should Read more

The Commerce Clause – Due Process and Cross Border Taxation


Cross border taxation risks of international enterprise incorporates two basic themes, one of which is the interpretation of the United States Commerce Clause and the Due Process distinction from jurisdictional analysis. It is one of the two basic aspects that govern the authority of a source and resident country or state to tax international commerce.

In the electronic commerce world the courts have embraced an evolution of Due Process requisite of jurisdiction and of commerce. That analysis for both turns upon the judicial case law evolution that focuses on the contact with the state or country that imposes taxation from their border. Read more

Introduction To Section 482 And International Financial Centers


As an introduction to International Financial Centers and the pricing concepts between structures of entities, an integration of international law principles and taxation concepts is desirable. This is the essence and difficulty of understanding Financial Centers Offshore. It requires a melding of international financial law, international civil and criminal law, and international taxation rules. It is the bifurcation of these disciplines that makes International Financial Centers so elusive.

The foundation to a discussion of entity structure concepts is melding the taxation rules peculiar to foreign corporate entities; controlled entity rules, source of income Read more

Divisive Foreign Corporate Reorganizations


Corporate reorganizations are valued tools to the practitioner. They provide the opportunity to defer taxable events by virtue of non-recognition treatment. They are characterized as acquisitive, reformative, and divisive transactions. Currently they are relevant as timely transactions as publicly traded security prices have soared while revenue growth has slowed. Companies can grow by shrinking, selling off under performing assets and putting the cash to work. (See Jack Hough, Buy the Asset Sellers, Barron’s Magazine, Saturday, December 7, 2013)

In a previous writing (Tax Connections/Foreign Corporate Acquisitive Reorganizations) the Read more