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This course covers classification of nonresident entities for United States tax purposes. Coverage begins with classification of organizations as separate from taxpayers, then discusses classification differentiations between trusts and business entities.

This course covers the following Topics:

  • Threshold Considerations
  • Is the Entity a Trust?
  • Foreign Business Entities
  • Foreign Business Entities - Entity Classification
  • Foreign Business Entities - Elections
  • Foreign Business Entities - Relevance Determinations
  • Taxation of Foreign Business Entities
  • Foreign Corporations - Subpart F Income
  • Foreign Corporations - GILTI
  • GILTI – Regulatory Guidance
  • Foreign Corporations - Passive Foreign Investment Companies

 

Learning Objectives

  • Identify the classification of nonresident entities for United States tax purposes.
  • Explore the classification of organizations as separate from taxpayers.
  • Recognize the classification differentiations between trusts and business entities.
Last updated/reviewed: May 26, 2022

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  5:59Introduction to Classification of Nonresident Entities
  8:31Threshold Considerations
  24:51Is Entity a Trust
  10:58Foreign Business Entities - Entity Classification
  13:42Foreign Business Entities-Elections and Relevance Determination
  17:03Taxation of Foreign Business Entities and Foreign Corporations - Subpart F Income
  8:16Foreign Corporations - GILTI
  11:28Foreign Corporations - Passive Foreign Investment Companies
CONTINUOUS PLAY
  1:40:48Classification of Nonresident Entities
SUPPORTING MATERIAL
  PDFSlides: Classification of Nonresident Entities
  PDFClassification of Nonresident Entities Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM