So, a company would receive a credit from its tax home country for taxes paid to other countries.
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The state of residence will generally give a credit for taxes paid to other states on income sourced to those states.
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Taxpayers generally receive credits for taxes paid in other states.
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However, a high income tax state such as California may only give credit for income taxes paid in these other jurisdictions while still applying the higher California rate on these earnings.
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Taxes paid by the other two-fifths, he figures, could be recycled back into the Social Security system and would not only ease the current cash squeeze but also help build reserves for the future.
Take for example a situation where a terminally-ill father has decided that his gift to his children upon his passing will be the total of his IRA, converted to Roth and with the taxes paid from his other sources, so that the Roth account will be available tax-free to the children.
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There are other taxes paid on incomes (national insurance, our equivalent of social security, Medicaid and so on) making that 40% or so as an income tax rate alone the peak of the curve.
Fuel taxes paid by airlines are counted with other fuel costs.
If Obama Care costs over a trillion and its direct taxes and penalties are a half trillion, and it somehow reduces the deficit (as the CBO claims), there must be hidden in Obama Care another half trillion in taxes or other gimmicks that end up being paid by the middle class.
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Rosneft, a state-owned oil company that now owns Yugansk, is suing Yukos over Yugansk's own back-taxes (already paid, says Yukos), and other issues.
Some analysts worry that the supposedly temporary measure will never be reversed, but will instead join a host of other Brazilian taxes introduced in haste and paid at leisure.
One way to reduce health insurance subsidies is to eliminate the tax-exemption for employer-paid health insurance premiums, while simultaneously lowering other taxes to hold revenue constant.
After all, around 50% of Americans pay no federal income tax at all, yet they still enjoy all the benefits that flow from the federal income taxes paid by others, including housing, food, student loans and other assistance.
The paper goes on to suggest that, even including other non-income taxes, the tax rate Depardieu claims to have paid is preposterous.
Tax authorities in recent weeks served notices on oil company Royal Dutch Shell PLC and U.K.-based Vodafone Group PLC saying they owe higher taxes than they paid because they undervalued the transfer of shares between their Indian subsidiaries and other overseas units.
In other words, they paid negative 3.8% of federal income taxes.
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Robert Poole of the Reason Foundation agrees, and adds that he underestimated two other tollway hurdles: The public feels it's already paid for roads with gas taxes and often resents the idea of the rich getting a faster ride.
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