Determine whether each of the taxes listed below may be credited against a U.S. income tax liability.

Question:

Determine whether each of the taxes listed below may be credited against a U.S. income tax liability.
a. Saudi Arabian tax on companies producing petroleum
b. French Company Income Tax
c. Ontario (Canada) Corporations Tax
d. Japan Tax
A partial list of research sources includes:
• Research Institute of America (RIA), United States Tax Reporter, ¶9015.03
• Commerce Clearing House (CCH), Standard Federal Tax Reporter, ¶27,826.318
• Bureau of National Affairs (BNA), Tax Management Portfolios, individual country portfolios on Saudi Arabia, France, Canada, and Japan For additional authority, the researcher might consult the tax treaties that the United States has concluded with each of the four countries.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...