Federal Income Tax Nyu - Excel by ena11158

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									Foreign Tax Credit Pooling/Transfer Pricing: Great Lakes

TAX RATES AND PARAMETERS                                                          France
                                  FranceHong Kong     Earnings before tax         220.00
Tax rate on dividends             43.00%   15.00%     Less: Host income tax        94.60
Tax rate on retained earnings     43.00%   15.00%     Earnings after tax          125.40
Dividend withholding tax rate      5.00%    5.00%     Gross dividend to Parent    125.40
                                                      Less: Withholding tax         6.27
Ownership                         100.00%   100.00%   Net dividend to Parent      119.13
Dividends to earnings after tax   100.00%   100.00%   Foreign income taxes         94.60
                                                      Foreign withholding taxes     6.27
                                                      Total creditable taxes      100.87
                                                      Taxable income in U.S.      220.00
                                                      U.S. federal tax at 34%      74.80
                                                      Less: Foreign tax credit     74.80
                                                      U.S. taxes owed               0.00

                                                      Total creditable taxes      100.87
                                                      US FIT before FTC            74.80
                                                      Foreign tax credit           74.80
                                                      Current excess FTC           26.07

                                                      Total Tax Owed

                                                      Savings
Hong Kong Worldwide Total taxes
    75.00
    11.25
    63.75
    63.75
     3.19
    60.56
    11.25              105.85
     3.19                 9.46
    14.44
    75.00  295.00
    25.50  100.30
    14.44  100.30
    11.06     0.00        0.00

    14.44    115.31
    25.50    100.30
    14.44    100.30
     0.00     15.01

                       115.31

                          0.00

								
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