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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Trace, Ltd., a foreign corporation, operates a trade or business in the United States. Trace’s U.S.-source income effectively connected with this trade or business is $800,000 for the current year. Trace’s current-year E & P is $600,000. Trace’s net U.S. equity was $8.2 million at the beginning of the year and $8.6 million at year-end. Trace is a resident in a country that has no income tax treaty with the
United States.
Prepare a letter to Tanner Martin, Trace’s Tax VP, reporting Trace’s branch profits tax liability for the current year, along with at least one planning idea for reducing      the branch profits tax. Trace uses the following address for its U.S.  affairs: 9148 Church Street, Marietta GA 30060.
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