Any income earned or assets acquired that year are counted more heavily than in later years.
Many other industrialized companies instead use a territorial system, which taxes only income earned at home.
Drawback: Any income earned by one of these CLATs is taxable to the donor.
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Corporate earnings are largely bolstered by income earned abroad and kept there due to high US tax rates.
Most states tax residents on their world wide incomes and non-residents on income earned in that state.
Reducing taxes on additional income earned should increase income and the tax on that income to some extent.
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But the government sent its report back, asking it to include data about informal income earned by the unemployed.
The ECB said its interest income earned from Greek bonds last year helped boost its 2012 net profit by more than a third.
More generally, the report says tax systems should not differentiate between income earned in different ways between working for someone else, say, and self-employment.
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The exclusion from taxation of income earned abroad under the jurisdiction of another treasury and legislature is the sovereign right of that country.
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He also promises to move to a territorial system, where only income earned in the U.S. would be subject to U.S. corporate income tax.
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At the margin, a tax on earning additional income will reduce the total income earned and will reduce the tax take to some extent.
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It should not be privatised, the watchdog said, but could be given extra funds taken from income earned by commercial divisions of the BBC.
The number of these entities has soared in recent years, and they now account for about half of the income earned by American businesses.
Therefore since for general income tax purposes, income earned from renting real estate should not be included in the calculation of the 3.8% Medicare Surtax.
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Experts on the North's mercurial ways speculate that it is squeezing Kaesong to prove that it doesn't depend on the foreign exchange income earned there.
The measure would double tax U.S.-based multinationals on income earned abroad.
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Are they agitating for governments to impose worldwide taxation so that companies are double-taxed on any income earned (and already subject to tax) in other jurisdictions?
And these business rely heavily on interest rates as the interest income earned on the outstanding loan portfolio forms a bulk of each of their revenues.
This 20 percent gain will be taxed as ordinary income under the Obama plan beginning with income earned in 2011. iReport.com: What are you giving up?
Consumer and business spending consists of income earned plus debt.
Why can't I take a bit of income earned from my regular job, where my talents lie, and give it to a plumber who loves diving into his work?
When debt payments come due, the U.S. has the choice of running the printing press and increasing the monetary supply or paying interest with income earned from tax payers.
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Income earned in the state is already taxed regardless of residence status, but many retirees or vacationers own a home in the state and live there only for the summer.
The law essentially conscripts FFIs as deputy tax collectors for the IRS, forcing them to report the assets of and any income earned by American clients regardless of where it originated.
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It gave top-tier earning expatriates the ability to avoid the standard progressive income tax of up to 43% and instead pay a flat tax rate of 24% on income earned in-country.
Romney would seek to drop the corporate rate and cease taxing corporations on income earned overseas, which some argue would eliminate the quandary posed by foreign profits being locked up abroad.
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In holding that the taxpayer in Rogers could not exclude income earned while in international airspace, we reasoned that income earned in international airspace was akin to income earned in international waters.
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The 0.95% expense ratio may be reduced by interest income earned on cash and financial instruments since the fund will get its desired exposure with leveraged swaps while maintaining a large cash position.
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When someone is too deeply in debt, he may have little incentive to work, or, at least, to do work that is legal, as any income earned will have to go to creditors.
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