Deck 9: Multijurisdictional and Other Research

Question 1

The state entity responsible for enacting laws regarding state revenue sources and consequently pass bills amending and augmenting their state's taxing code is called the:

A) Judicial Agency.
B) Administrative Body.
C) State Legislature.
D) State Tax Commission.

Answer 1

C

Question 2

Generally, local governments are authorized to impose taxes by the:

A) state statutory or constitutional provisions.
B) State Governor.
C) the President of the U. S.
D) Chairman of the U. S. Treasury.

Answer 2

A

Question 3

The Tax Service which offers an extensive library of databases for state tax research reached through its State Materials Tab is called:

A) LexisNexis Academic.
B) Bloomberg BNA.
C) WestlawNext Campus.
D) Checkpoint SALT.

Answer 3

C

Question 4

When deciding where to locate new plants or headquarters, businesses must consider the level of:

A) revenues.
B) expenses.
C) diversions.
D) state and local taxation.

Question 5

The Tax Service which offers state data through two search engines Search and Sources is called:

A) LexisNexis Academic.
B) Lexis Tax Center.
C) Checkpoint SALT.
D) WestlawNext State Service.

Question 6

The Bloomberg BNA service makes finding state tax information easy to find by the use of:

A) Citators.
B) Keywords.
C) State Tax Portfolios.
D) State Topical Indexes.

Question 7

Most states in the United States use which type of Judicial system?

A) Only Superior Courts.
B) One­tier Judicial System.
C) Two­Tier Judicial System.
D) Three­Tier Judicial System.

Question 8

The backbone of the CCH IntelliConnect State service combines detailed explanations, primary source materials, and practical compliance guidance. CCH calls it:

A) State TOC.
B) Search States.
C) State Tax Reporters.
D) State Tax Unlimited.

Question 9

In today's expanding tax planning and compliance, Tax practitioners need to service their clients by adding to federal tax planning:

A) tax analysis.
B) investment planning.
C) state and local tax planning.
D) Estate planning.

Question 10

Generally, state constitutions limit the rates and types of taxes that can be imposed, and they require that tax laws show uniformity, provide equal protection, and have a:

A) good background.
B) profitable end.
C) public purpose.
D) referendum.

Question 11

The clause which goal is to create a national economy unencumbered by discriminatory, arbitrary jurisdictional standards of the states is called the:

A) Supremacy Clause.
B) Due Process Clause.
C) Commerce Clause.
D) Equal Protection Clause.

Question 12

The federal clause most frequently providing the basis for state taxation disputes related to the states' power to tax out-of-state individuals and entities is the:

A) Supremacy Clause.
B) Federal Clause.
C) Commerce and Due Process Clause.
D) Legal Perspective Clause.

Question 13

Companies conducting business in more than one state are subject to multistate taxation.In order to create uniformity and consistency in the measurement and determination of business and nonbusiness income the following legislation was drafted:

A) Uniform Division of Income for Tax Purposes.
B) Multilateral Income Agreement.
C) Income Treaty.
D) Multi­State Accord.

Question 14

The tax service which provides state-by-state access to all the state-level tax laws and regulations and a host of analysis and other editorial materials as well is called:

A) IntelliConnect State.
B) Bloomberg BNA State.
C) Checkpoint SALT.
D) Lexis Tax Center.

Question 15

Tax practitioners need to expand their local service to clients to include:

A) income Tax.
B) state and local tax.
C) multijurisdictional taxation.
D) tax planning

Question 16

The law that prevents the income taxation of interstate commerce if a company's only business within the state is the solicitation of orders for sales of tangible personal property is called the:

A) Interstate Commerce Law.
B) Interstate Income Law.
C) Legal Perspective Law.
D) Public Law.

Question 17

Which Federal Constitutional clause limits the territorial scope of a state's taxing authority?

A) Supremacy Clause.
B) Commerce Clause.
C) Equal Protection Clause.
D) Due Process Clause.

Question 18

Once tax statutes are enacted, they must be interpreted and enforced.These duties usually fall to entities created by either statutory or constitutional provisions. These entities are called:

A) State Legislatures.
B) Constitutional Statutes.
C) Judicial Systems.
D) Administrative Agencies.

Question 19

Thomson Reuters Checkpoint State and Local Tax (SALT) service is a comprehensive analysis of:

A) state imports and exports.
B) state and local taxes.
C) state and local tax issues.
D) international tax issues.

Question 20

Which of the following clauses of the Federal Constitution immunizes the Federal government from taxation by the states?

A) Due Process Clause.
B) Commerce Clause.
C) Supremacy Clause.
D) Equal Protection Clause.

Question 21

A transaction country is a country where the taxpayer resides or an entity is located.

Question 22

Foreign taxpayers (also known as nonresident aliens) generally are subject to federal taxes only on:

A) average wages after taxes.
B) the tax wedge.
C) U.S. source income.
D) all income.

Question 23

Westlaw's two portals to international taxation material portals are limited to:

A) Foreign Companies only.
B) All academic institutions.
C) Only law schools.
D) Free materials.

Question 24

Tax treaties can prevent double taxation by:

A) providing reduced tax rates and reduced withholding.
B) exempting certain types of income from taxation.
C) including a "savings clause."
D) all of the above.
E) only (a) and (b).

Question 25

The Internet site ? HYPERLINK "http://www.taxsites.com/" ?www.taxsites.com ?which contains links to numerous tax resources is called the:

A) E-mail Highlights.
B) Tax and Accounting Sites Directory.
C) Cyberspace Tax Research.
D) Complete Internet Tax Research.

Question 26

The conceptual model where a country imposes taxes on tax residents based on their worldwide income, regardless of its source is called:

A) territorial model.
B) International model.
C) worldwide model.
D) continental model.

Question 27

The State Taxation treatise is published by:

A) Bloomberg BNA.
B) WG&L.
C) CCH.
D) Westlaw.

Question 28

With a territorial model of taxation, a foreign tax credit is needed to ensure that the income is not taxed twice.

Question 29

The OECD is an organization known for its:

A) belief in democratic governments and market economies.
B) support of tax havens.
C) publication of economic and social data and statistics.
D) only (a) and (c).

Question 30

Bloomberg BNA's Premier International Tax Library includes:

A) an international create-a-chart feature.
B) CCH's Tax Treaties Reporter.
C) Tax Notes International.
D) Tax Management Portfolios

Question 31

U.S. treaties can be accessed quickly in the BNA International Portfolio under which heading?

A) Country Portfolios.
B) Global Tax Guide.
C) Tax Treaties.
D) International Tax Monitor.

Question 32

Which of the following statements describes the international tax services offered by LexisNexis?

A) LexisNexis contains a Westlaw International Tab.
B) Only primary sources are available.
C) LexisNexis contains international publications by BNA, CCH, Wiley, and Tax Analysts.
D) All of the above statements accurately describe LexisNexis international tax services.

Question 33

From an economic perspective, the objective of the international tax rules of each country should be to:

A) prevent other coutries from copying it.
B) ease taxing system interactivity.
C) shelter profits.
D) discourage investments.

Question 34

Generally, inventory sales are sourced by the location of the seller.

Question 35

The ultimate goal of a corporate tax director in international tax planning is to reduce the company's overall global
effective tax rate.

Question 36

CCH IntelliConnect offers numerous international tax products including the Global Daily News and:

A) WG&L Treatises.
B) BNA International Publications.
C) International Tax System.
D) Law of Federal Taxation.

Question 37

The U.S. blended model encourages U.S. domestic corporations to retain earnings in foreign countries and postpone repatriation as long as possible.

Question 38

The Checkpoint tax product which provides a comprehensive set of analytical treaties and texts is named:

A) RIA International Taxes Weekly
B) Tax Management Portfolios.
C) RIA International Tax Library (ITL)
D) Worldwide Tax Treaties.

Question 39

The transfer pricing rules target multinational companies that use the price-setting process in intercompany transactions to report low taxable income in high-tax countries and high taxable income in the low-tax countries.

Question 40

In practice, most of the countries in the world use a pure worldwide model of taxation.

Question 41

A native country's taxation of its citizens' foreign­source income involves inbound transactions.

Question 42

U.S.-adopted tax treaties usually do not address state and local tax issues.

Question 43

Westlaw offers one portal to international taxation materials, through the standard service, Westlaw Taxation.

Question 44

"The Code provisions always take precedence over treaty provisions." Comment.

Question 45

Why are taxpayers emphasizing multijurisdictional tax planning?

Question 46

54. Worldwide Tax Rates and Answers, a service of CCH IntelliConnect, provides corporate tax rates by country, including national and local tax rates, as well as current forms and instructions for countries around the world.

Question 47

Discuss in brief about some of the most useful resources offered within the CCH International Tax Service.

Question 48

Westlaw offers the business primers, "Doing Business in…" for a variety of countries that provide an overview of different countries' tax environments.

Question 49

What is the International Bureau of Fiscal Documentation, and what is its mission?

Question 50

Originally, the International Bureau of Fiscal Documentation (IBFD) was simply a document repository, but now it provides expert research products.

Question 51

Briefly explain the U.S. blended model of international taxation and the purpose of the foreign tax credit.

Question 52

U.S. tax law uses a territorial approach for taxing non-U.S. taxpayers.

Question 53

The newsletter, International Taxes Weekly, is published by Westlaw.

Question 54

How is the source of income determined for the purpose of taxation? Briefly identify the sourcing rules for the following types of income: dividends, services, sales of inventory and income from property.

Question 55

BNA offers Country Portfolios covering the taxation of business operations in specific countries.

Question 56

CCH IntelliConnect offers the International Tax Planning Library.

Question 57

Tax Notes International, published by the Tax Analysts, is a daily publication.