A corporation's non-business foreign income tax credit is limited to 15 percent of foreign non-business income earned.

Question

Quizplus · Accepted Answer

A corporation's non-business foreign income tax credit is generally limited to the amount of foreign taxes paid or accrued on that income, not a percentage of the income earned. However, there are limitations and restrictions to the foreign tax credit calculation.

A Corporation's Non-Business Foreign Income Tax Credit Is Limited to 15