Jeffrey L. Rubinger

Jeffrey L. Rubinger

Bilzin Sumberg Baena Price & Axelrod LLP

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Use of Estonia in U.S. International Tax Planning

According to recent estimates, Estonia, which is situated halfway between Stockholm and St. Petersburg, currently has more than 350 start-up technology companies – one for every 3,700 citizens – and the government expects...more

8/24/2015 - Cayman Islands CFC Corporate Taxes Dividends EU Foreign Corporations Fringe Benefits Income Tax Treaty Income Taxes Microsoft Profits Royalties Shareholders Skype Startups Subpart F Switzerland Tax Planning Tax Rates Tax Treaty Technology Sector Third-Party Relationships UAE

Commission Payments to IC-DISC Recharacterized as Non-Deductible Dividends

In Summa Holdings, Inc. v. Commissioner, T.C. Memo 2015-119, the Tax Court recharacterized an exporter’s deductible commission payments made to an IC-DISC as non-deductible dividend payments to the exporter’s shareholders...more

7/13/2015 - C-Corporation Contribution Limits Dividends Exports Foreign Corporations IC-DISC IRS Retirement Plan Roth IRA S-Corporation Shareholders Shell Corporations Stocks Tax Court Tax Rates UBTI

Proposed U.S. Model Treaty Provisions May Dramatically Alter International Tax Landscape

The U.S. Model Income Tax Treaty (the U.S. Model Treaty) generally represents the United States’ opening position in treaty negotiations. As a result, when changes to the treaty are proposed, international tax practitioners...more

6/18/2015 - Income Tax Treaty Proposed Amendments U.S. Treasury

Tax Planning for International Transportation Income

According to the most recent estimates, the quantity of goods carried by containers has risen from around 100 million metric tons in 1980 to about 1.5 billion metric tons in 2012. Out of these numbers, one container in every...more

4/28/2015 - Canada Corporate Taxes International Trade International Treaties Maritime Transport Railroads Surface Transportation Tax Planning Trucking Industry

New Russian CFC Rules Will Impact Inbound U.S. Tax Planning

According to recent estimates, the number of wealthy Russians investing in the United States ballooned in 2014 as a result of political turmoil and a disintegrating ruble causing Russians to seek a safe haven for their wealth...more

4/7/2015 - Controlled Foreign Corporations FIRPTA Foreign Investment Real Estate Investments Russia Tax Treaty

Recent Chilean Tax Reform Reinforces Need for U.S. Tax Treaty

Chile is the fifth largest economy in South America and increasingly one of the most significant U.S. trading partners in the region. U.S. foreign direct investment into Chile was $39.9 billion for 2012 (the latest year for...more

3/9/2015

Is a Distribution of Previously Taxed Income “Exempt from Tax”?

A U.S. shareholder of a controlled foreign corporation (CFC) is required to include in its gross income its pro rata share of the CFC’s subpart F income and/or the amount determined under Section 956 with respect to such...more

2/19/2015 - Controlled Foreign Corporations Corporate Taxes Shareholders Tax Exemptions

Ruling Demonstrates Potential for Inversion Rules to Apply in Inbound Structures

In Private Letter Ruling 201432002 (the “PLR”), the IRS ruled that a foreign-to-foreign “F” reorganization did not implicate the Section 7874 anti-inversion rules. As a result, a foreign corporation (that was 100 percent...more

1/22/2015 - Corporate Taxes Foreign Corporations Inversion IRS Private Letter Rulings Subsidiaries

IRS Disregards Own Revenue Ruling in Barnes Decision

The Court of Appeals for the Second Circuit recently affirmed the Tax Court’s 2013 decision in Barnes Group, Inc. and Subsidiaries, T.C. Memo 2013-109, in which the Tax Court applied the step transaction doctrine to...more

11/17/2014 - Appeals Foreign Subsidiaries IRS Manufacturers Tax Court

10th Annual University of Florida International Tax Symposium

On Friday, October 31, I will be speaking at the 10th Annual University of Florida International Tax Symposium held at the University of Florida, Levin College of Law in Gainesville, Florida....more

10/31/2014 - Professional Conferences

Death of the “Double Irish Dutch Sandwich”? Not so Fast.

On October 14, 2014, the Irish Minister for Finance released proposals as part of the 2015 Irish Budget that would cause Irish incorporated non-resident (“INR”) companies to be treated as tax resident in Ireland beginning...more

10/24/2014 - Corporate Taxes International Tax Issues Ireland Multinationals

IRS Denies Treaty Benefits Despite Lack of Treaty Shopping

In Starr International Company, Inc., v. United States, the taxpayer (“Starr International Company, Inc.” or “SICO”) filed a complaint in the United States District Court for the District of Columbia seeking a tax refund from...more

10/9/2014 - AIG Corporate Tax Rates Corporate Taxes Dividends IRS Popular Tax Refunds Tax Treaty Withholding Requirements

“Return of Basis” Repatriation Strategy Tested in Tax Court

U.S. multinationals literally have trillions of dollars of untaxed earnings purportedly “trapped” offshore because of the associated high U.S. corporate income taxes that would be incurred if these earnings were repatriated...more

9/25/2014 - Controlled Foreign Corporations Corporate Counsel Corporate Taxes Foreign Subsidiaries IRS Multinationals Repatriation U.S. Treasury

IRS Taking Closer Look at Section 956 Inclusions

Each “U.S. Shareholder” of a controlled foreign corporation (“CFC”) is required to include in their gross income as a deemed distribution their pro rata share of the amount determined under section 956 for that year (i.e.,...more

9/17/2014 - Controlled Foreign Corporations Foreign Corporations IRS Section 956 Shareholders

Editorial: Qualifying for Treaty Benefits Under the “Derivative Benefits” Article

Foreign persons are subject to U.S. federal income tax on a limited basis. Unlike U.S. persons who are subject to U.S. federal income tax on their worldwide income, foreign persons generally are subject to U.S. taxation on...more

9/8/2014 - Derivatives FATCA FDAP Income Taxes Tax Treaty

The Real Tax Benefits of Inverting to Canada

On August 26, Burger King announced that it entered into an agreement to acquire Tim Hortons, Inc., the Canadian coffee-and-doughnut chain, in a transaction that will be structured as an “inversion” (i.e., Burger King will...more

9/2/2014 - Burger King Canada Controlled Foreign Corporations Inversion Inverted Domestic Corporations Subsidiaries

How Windstream Ruling Will Affect Foreign Taxpayers

In general, a REIT is a special purpose entity for U.S. federal income tax purposes that requires at least 75 percent of the value of the entity’s gross assets to consist of real estate assets, cash, cash items, and...more

8/25/2014 - Corporate Tax Rates Corporate Taxes Foreign Jurisdictions Income Taxes International Tax Issues Mortgage REITS Popular REIT

IC-DISC Benefits Enhanced with Foreign Shareholders

Since the reduction in the individual tax rate on qualified dividends in 2004, the Interest Charge Domestic Sales Corporation (“IC-DISC”) has become an attractive vehicle to obtain a tax incentive for exporting U.S.-produced...more

8/18/2014 - Dividends Exports IC-DISC Income Taxes Shareholder Litigation Shareholders Tax Incentives

Local Law Shopping Through “Derivative Benefits”

Unlike U.S. persons who are subject to U.S. federal income tax on their worldwide income, foreign persons generally are subject to U.S. taxation on two categories of income: (i) certain types of passive U.S.-source income...more

8/11/2014 - FDAP Income Taxes International Tax Issues

Inbound U.S. Tax Planning With Inversions

With all of the recent negative publicity focused on the outbound restructuring of U.S. multinationals engaging in so-called “inversion” transactions (see prior blog “Corporate Inversions Showing No Signs of Slowing Down”),...more

8/4/2014 - International Tax Issues Inversion Parent Corporation Tax Planning

Editorial: Corporate Inversions No Signs Of Slowing Down

In a corporate inversion, a U.S. corporation — typically the parent of an affiliated group — becomes a wholly owned subsidiary of a foreign corporation through a merger into the foreign corporation's U.S. subsidiary or...more

7/24/2014 - Foreign Corporations Inversion Mergers Subsidiaries

Synthetic Investment in U.S. Real Estate by Foreign Investors

According to recent reports, foreign investment in commercial U.S. real estate exceeded $38.7 billion in 2013 - a 40 percent increase over 2012. Leading the way in 2013 were investors from Canada, China, Australia, Germany,...more

7/18/2014 - Australia Canada China Foreign Investment Popular Real Estate Investments

Affirmative Use of U.S. Partnerships in Inbound Tax Planning

A “U.S. shareholder” of a controlled foreign corporation (CFC) is required to include in its gross income its pro rata share of a CFC’s “subpart F” income, regardless of whether such income is distributed. In general, a CFC...more

6/30/2014 - CFC Foreign Corporations Partnerships Shareholders Tax Planning Year-End Planning

Corporate Inversions Showing No Signs of Slowing Down

In a corporate inversion, a U.S. corporation (typically the parent of an affiliated group) becomes a wholly owned subsidiary of a foreign corporation (through a merger into the foreign corporation’s U.S. subsidiary) or...more

6/19/2014 - Corporate Taxes Foreign Corporations Inversion Subsidiaries Tax Reform Transfer of Assets

Retroactive Tax Planning

Converting Subpart F Income into Qualified Dividends - U.S. shareholders of foreign corporations are generally not subject to tax on the earnings of such corporations until the earnings are repatriated to the...more

6/13/2014 - Controlled Foreign Corporations Corporate Conversions Dividends Foreign Corporations Foreign Investment Jurisdiction Repatriation Shareholders Subpart F Tax Planning Tax Treaty

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