Thepurpose of this tax research assignment is to help you develop skills in researching tax issues. Please answerbothof the questions below. The final deliverable for this project will be a written memo which should be at least 2 pages double-spaced, 12 point font, 1” margins.
Mandatory Question #1 (Answer all of the following): What are the primary types of state and local taxes? How would a business determine if it hassalestax nexus and how would the business calculate its businesssalestax withholding responsibilities? How would a business determine if it hasincometax nexus and how would the business calculate its businessincometax withholding responsibilities?
Mandatory Question #2 (Answer all of the following): What is the basis US framework for taxing multinational transactions (i.e., explain outbound and inbound transactions)? What are the US source rules for common items of gross income and deductions? What is the role of income tax treaties in international tax planning? What is the computation for the foreign tax credit and what is the difference betweenallocationandapportionmentin sourcing deductions in computing the foreign tax credit limitation? What are some advantages and disadvantages of the different forms of doing business outside of the US? What is the basic US anti-deferral tax regime and what are common sources of subpart F income?
12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 1/7 ACCT 417 Rubric Course: ACCT 417 7381 Federal Income Tax II (2228) Analysis and Evaluation 25 5 Points 4 Points 3 Points 2 Points 1 Point 0 Points Criterion Score Qualitati ve Analysis / 5 Quantitat ive Analysis / 5 Effective Use of Resource s Specific to Your Project / 5 Effective Use of Resource s Specific to Our Course / 5 Ability to create a unified 'story' to meet goals of the deliverab le / 5 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 2/7 Meets Presentati on Requireme nts 10 5 Points 4 Points 3 Points 2 Points 1 Points 0 Points Criterion Score Meets Presentati on Requireme nts 10 5 Points 4 Points 3 Points 2 Points 1 Points 0 Points Criterion Score Uses resources of our course / 5 Satisfies specific requirem ents for the presentat ion including on time submissi on / 5 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points Basic Content in Place 25 5 Points 4 Points 3 Points 2 Points 1 Point 0 Points Criterion Score Illustrate s knowledg e of foundatio n materials / 55 points 4 points 3 points 2 points 1 point 0 points 12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 3/7 Basic Content in Place 25 5 Points 4 Points 3 Points 2 Points 1 Point 0 Points Criterion Score Demonst rates applicatio n of key course concepts / 5 Effective Use of Resource s Specific to Your Project / 5 Qualitati ve Analysis / 5 Quantitat ive Analysis / 5 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points Advanced Content in Place 20 5 Points 4 Points 3 Points 2 Points 1 Points 0 Points Criterion Score Illustrate s knowledg e of course materials / 55 points 4 points 3 points 2 points 1 point 0 points 12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 4/7 Advanced Content in Place 20 5 Points 4 Points 3 Points 2 Points 1 Points 0 Points Criterion Score Demonst rates applicatio n of advanced course concepts / 5 Effective Use of Advance d Resource s Specific to Your Project / 5 Tells a story to meet the goals of the deliverab le / 5 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points Format including APA and Works Cited Specificati ons 10 5 Points 4 Points 3 Points 2 Points 1 Points 0 Points Criterion Score 12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 5/7 Format including APA and Works Cited Specificati ons 10 5 Points 4 Points 3 Points 2 Points 1 Points 0 Points Criterion Score Report prepared in your own words, avoiding excessive quotes / 5 Works Cited List with appropria te resources included / 5 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points Clarity, mechanics , and formatting 10 5 Points 4 Points 3 Points 2 Points 1 Point 0 Points Criterion Score 12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 6/7 Total / 100 Clarity, mechanics , and formatting 10 5 Points 4 Points 3 Points 2 Points 1 Point 0 Points Criterion Score Single Spacing, Double Spacing between paragrap hs, page numbers / 5 Reader focused, easy to follow, effective use of space such as charts and headings / 5 5 points 4 points 3 points 2 points 1 point 0 points 5 points 4 points 3 points 2 points 1 point 0 points 12/2/22, 10:12 PM Tax Memo: Multi State and International Tax - ACCT 417 7381 Federal Income Tax II (2228) - UMGC Learning Management Sys… https://learn.umgc.edu/d2l/lms/dropbox/user/folder_submit_files.d2l?db=1434567&grpid=0&isprv=&bp=0&ou=847267 7/7 Overall Score 5 Points 5 points minimum 4 Points 4 points minimum 3 Points 3 points minimum 2 Points 2 points minimum 1 Point 1 point minimum 0 Points 0 points minimum