U.S. Inbound TaxationMr. Cope has advised non-US corporate clients on wide array of tax matters arising from investing in, or operating a business in, the United States. These clients have been in various industries including, airlines, oil and gas exploration, shipping, online games, consumer finance, online retailing, manufacturing, engineering services, publishing, printing, private equity and software.
Taxable presence (which activities create a US trade or business, when is income effectively connected with a US trade or business); The branch profits tax; The branch level interest tax; Limitations on the interest deduction and other related party payments; Importance of the filing requirements. See also: U.S. Income Tax Treaties
Types of income subject to US withholding tax; Items of income subject to special treatment (interest that is free of withholding, dividend equivalents, income of sovereign wealth funds); Anti-conduit rules and case law; U.S. Investors offshore (FATCA and non-FFIs); filing requirements. See also: U.S. Income Tax Treaties
Investing in U.S. Real Estate
The net basis election; FIRPTA planning (withholding, non-recognition transactions, avoiding USRPHC status); Loss utilization.
Restructuring U.S. Operations
Creation of holding companies; Mergers and consolidations of US entities; FIRPTA issues (avoiding withholding, obtaining non-recognition treatment, section 304, USRPHC testing, treaty benefits); Branch terminations; Adding leverage to the US group.
Special Types of Income
Shipping and airline income (the section 887 gross basis tax, section 883 and reciprocal exemptions, treaty benefits); International communications income; Space and ocean income.