Which of the following foreign taxes are not creditable for U.S.tax purposes?
A) Direct taxes paid by a U.S. corporation on income earned in a foreign branch.
B) Deemed paid taxes on a dividend received by a U.S. corporation from its 100 percent owned foreign subsidiary.
C) Withholding taxes imposed on a dividend received by a U.S. corporation from its 100 percent owned foreign subsidiary.
D) All of these taxes are creditable.

Question

Quizplus · Accepted Answer

All the mentioned taxes are creditable for U.S. tax purposes as they are either directly paid, deemed paid, or withholding taxes on dividends.

Which of the Following Foreign Taxes Are Not Creditable for U.S.tax