Molly, Inc., a domestic corporation, generates income from the receipt of royalty income from patents that it
Question:
Molly, Inc., a domestic corporation, generates income from the receipt of royalty income from patents that it owns. Molly wants to avoid U.S. income tax on these royalties, so it has its 100%-owned subsidiary, based in Nigeria, hold the patents and collect the royalties.
What U.S. income tax issues must be considered in assessing this arrangement by Molly, Inc.?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Is there a tax treaty between Nigeria and the United States Is Nigeria ...View the full answer
Answered By
Karen Gina Dupra
I want to be in a firm where my education and experience in Journalism, legal knowledge, property management, and office protocols can positively contribute to achieving overall goals and objectives. I offer you the services of a person of high integrity and loyalty combining all of those traits and characteristics conducive to success in an undertaking - punctuality, flexibility, dependability, efficiency, a self-starter, a team player with great interpersonal skills and with superb knowledge in Computer Applications.
I finished my bachelor’s degree in Mass Communications at the ICCT Colleges Foundation, Inc., Cainta, Rizal in December 2007. I was able to teach there for one semester in the subject Politics and Governance with Philippine Constitution, however, due to other appointments I was not able to continue my passion for teaching in the same school and others.
I strongly believe that teaching is where I am destined to be, aside from lawyering. In fact, I even enrolled for the Executive Masters of Business Administration program at the University of Makati last January 2020. I am currently a graduating student at the Philippine Law School in Pasay City under their Juris Doctor Program.
I am working full time at DMCI Homes Property Management Corporation as its Corporate Compliance Manager with a work-from-home set-up.
Both my academic and professional accomplishments confirm that I will be deserving to be part of an esteemed educational institution. With a solid background in legal environment, business processes, and administration, and with my excellent oral and written communication skills, I believe I will be able to contribute to an institution’s development, particularly in the areas of Law and Economics. Apart from my relevant education and internship, I also acted as a student leader while I was in highschool, college, and volunteered in many philanthropic activities inside and outside school.
0 Reviews
10+ Question Solved
Related Book For 
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Question Posted:
