United States Person - Taxation

Taxation

Internal Revenue Code Section 7701(a)(30) defines a U.S. person as:

  1. a citizen or resident of the United States,
  2. a domestic partnership,
  3. a domestic corporation,
  4. any estate (other than a foreign estate, within the meaning of paragraph (31)), and
  5. any trust if—
    1. a court within the United States is able to exercise primary supervision over the administration of the trust, and
    2. one or more United States persons have the authority to control all substantial decisions of the trust.

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Famous quotes containing the word taxation:

    “Whether talking about addiction, taxation [on cigarettes] or education [about smoking], there is always at the center of the conversation an essential conundrum: How come we’re selling this deadly stuff anyway?”
    —Anna Quindlen (b. 1952)

    “Every diminution of the public burdens arising from taxation gives to individual enterprise increased power and furnishes to all the members of our happy confederacy new motives for patriotic affection and support.”
    —Andrew Jackson (1767–1845)

    “The Government is able to afford a suitable army and a suitable navy. It may maintain them without the slightest danger to the Republic or the cause of free institutions, and fear of additional taxation ought not to change a proper policy in this regard.”
    —William Howard Taft (1857–1930)