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Internal Revenue Code (IRC) Canada

Dorsey & Whitney LLP

Certain Canadian Corporations May Unknowingly be Subject to U.S. Federal Backup Withholding and Reporting Requirements With...

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Canadian corporations making dividend payments should ensure that they are compliant with U.S. federal backup withholding and reporting requirements to avoid potential U.S. federal income tax issues....more

Fenwick & West LLP

Bruyea v. United States - Latest Foreign Tax Credit Case on the NIIT Sheds Important Light on Treaty Double Tax Articles

Fenwick & West LLP on

Bruyea v. United States (Ct. Claims Dec. 5, 2024), is the latest in a series of cases concerning whether a U.S. double tax treaty, in this case Canada's, allows a foreign tax credit for Canadian income taxes against the 3.8%...more

Dorsey & Whitney LLP

Considerations for Awarding Incentive Stock Options

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Canadian companies that award stock options to their employees, non‑employee directors and/or other service providers often inquire as to whether they should offer Incentive Stock Options (“ISOs”) to any such individuals who...more

Davies Ward Phillips & Vineberg LLP

Highlights of Canada’s Latest Legislative Tax Proposals

The Department of Finance recently released a package of materials containing potential changes to the Canadian tax system (Tax Proposals). The materials, released on August 9, 2022, include draft amendments to the Income Tax...more

Dorsey & Whitney LLP

Canadian Corporations Acquiring U.S. Target Companies in Tax-Deferred Transactions: When Business Activities Outside the U.S....

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In transactions in which a Canadian corporation seeks to acquire a U.S. target entity for shares of the Canadian acquiror in a transaction intended to be tax-deferred for U.S. federal income tax purposes, the ability of U.S....more

Dorsey & Whitney LLP

Tax Reform to Impact Compensation Deduction Claimed by Foreign Private Issuers

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While the recently enacted U.S. tax reform legislation did not overhaul executive compensation to the extent proposed in early forms of the bill, Section 162(m) of the U.S. Internal Revenue Code was dramatically revised in a...more

Dorsey & Whitney LLP

Do You Need a Risk Factor for Proposed U.S. Federal Income Tax Reform?

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Tax reform efforts by Congress are ongoing, and the substance of the tax bills remains fluid. However, for foreign corporations with U.S. operations, there are some specific potential risks to consider, such as additional...more

Dorsey & Whitney LLP

When Will a Canadian Corporation be Treated as a Passive Foreign Investment Company?

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A Canadian corporation will generally be a passive foreign investment company or “PFIC” if, for a tax year, (a) 75% or more of its gross income is passive income (the “PFIC income test”) or (b) 50% or more of the value of its...more

Dorsey & Whitney LLP

DSU Plans Require Careful Review to Avoid Adverse U.S. Tax Treatment

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A Canadian company is planning to adopt a deferred share unit plan (DSU plan) for its directors. Only one or two of its directors are U.S. citizens or U.S. residents (“U.S. Directors”). With only one or two U.S. Directors,...more

Mintz - ML Strategies

Energy & Environment Update - July 2015 #3

Mintz - ML Strategies on

Energy and Climate Debate - With just two or three weeks before the August recess – two for the House, three for the Senate – Congress has a full schedule. The Senate will devote much of this week to the Highway bill,...more

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