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In: Accounting

The source rules are important both to: (1) U.S. citizens, residents, and domestic corporations; and (2)...

The source rules are important both to: (1) U.S. citizens, residents, and domestic corporations; and (2) nonresident alien individuals and foreign corporations. Lets start the discussion for second week by understanding below principles:

- Why are sourcing rules important for nonresident aliens and foreign corporations?

- How do we define U.S trade or business?

- What has effectively connected income for U.S tax purposes?

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