Читать книгу International Taxation - Adnan Islam - Страница 38

The 1996 regulations apply to any “business entity”—defined as an organization that is recognized as an entity for federal tax purposes and is not classified as a trust or other special entity for federal tax purposes. Per se corporations are generally defined and listed in Treasury Regulation 301.7701-2(b); but certain types of recently created foreign corporations inadvertently may not be listed. Several types of business entities are always treated as corporations for federal tax purposes, including the entities listed in the material that follows.

 A business entity organized under a federal or state law that describes the entity as “incorporated as a corporation, body corporate, or body politic [or] as a joint-stock company or joint-stock association…”

 A business entity organized under any one of several dozen foreign laws specifically identified in the 1996 regulations as analogous to state incorporation laws.

 An entity subject to tax as an insurance company.

 A business entity wholly owned by a foreign government.

 A business entity that is required to be taxed as a corporation, for example, a publicly traded partnership.

Assume that neither Aukum nor Jamal statutes applicable to Brubeck Boilerplate’s plant operations in Aukum and Jamal are foreign statutes specifically identified in the 1996 regulations as analogous to state incorporation laws. Therefore, neither of Brubeck Boilerplate’s plant operations constitutes a per se corporation.