美国个人所得税制之欧阳化创编文档格式.docx

1、See also: Topical AnalysesPrivate Investment Income section 1.1.1.1.Taxable personsUS citizens and residents are subject to taxation on their worldwide income even if they reside outside the United States. Foreign nationals are subject to US income tax if they become US residents or if they derive c

2、ertain types of income from US sources. Foreign nationals are treated as US residents if they are lawful permanent residents of the United States （i.e. hold a US green card） or if they meet a substantial presence test. The substantial presence test is met if the person is present in the United State

3、s for （1） at least 31 days during the current calendar year, and （2） for at least 183 days during the current calendar year and prior 2 years determined by counting each day of presence in the current year as 1 day, each day of presence in the first prior year as one third of a day, and each day of

4、presence in the second prior year as one sixth of a day. Exceptions apply to individuals in exempt categories （i.e. foreign government-related individuals, students, teachers, and trainees） and to individuals who have a closer connection to a home in a foreign country. Married persons may elect to f

5、ile either a separate income tax return reporting their own income and deductions or they may elect to file a joint tax return reporting the combined income and deductions of themselves and their spouse. Unincorporated entities such as partnerships and limited liability companies （LLCs） may make a v

6、oluntary election under the Treasury Departments “check-the-box” regulations to be taxed as corporations or as pass-through （transparent） entities. 1.2.Taxable incomePrivate Investment Income section 1.2.1.1.2.1.GeneralUS citizens and residents are taxable on all income from whatever source received

7、. This includes wages, salary, business income, and investment income. All types of income （with the exception of capital gains） are combined and taxed at the same rates. Capital gains are subject to special tax rates. Taxable income is computed by: （1） determining gross income, （2） subtracting cert

8、ain statutory deductions to arrive at adjusted gross income （AGI）, and （3） subtracting （i） the standard deduction amount or the amount of itemized deductions and （ii） personal exemption amounts. The tax rates are applied to the taxpayers taxable income as so computed, and the amount of tax owed may

9、be offset by allowable credits. The tax rates used depend on the return filing status of the taxpayer. There are four categories for individuals:（1）married persons filing joint tax returns that combine all their income and deductions;（2）heads of household, i.e. persons who maintain a household that

10、is the principal place of abode of a dependent child or other dependent for at least one-half of the taxable year;（3）unmarried individuals, i.e. single taxpayers; and（4）married persons filing separate returns, with each spouse reporting their own income and deductions on a separate return.Surviving

11、spouses may file in the married joint return category for the taxable year in which their spouse dies and for the 2 succeeding taxable years if they maintain a household that is the principal place of abode of a dependent child. Children are required to file an income tax return and pay tax on their

12、 own income. For the tax rates applicable to children who are under the age of 18 and who have unearned income above an annual threshold amount, and for an election by a parent to include the income of a child on the parents income tax return, see section 1.9.1.1.1.2.2.Exempt incomeCategories of inc

13、ome exempt from taxation include the following:-amounts received under life insurance contracts;gifts and inheritances;interest on bonds issued by US states and municipalities for qualified public purposes;foreign earned income （see section 6.1.1.）; and certain amounts received as compensation for i

14、njuries or sickness.An exclusion of USD 250,000 applies （USD 500,000 in the case of married persons filing a joint return） to gains from the sale of a home if it has been owned and occupied as the taxpayers principal residence for at least 2 years during the 5-year period preceding the date of sale.

15、 1.3.Employment income1.3.1.SalaryIncome received as salary and wages is subject to personal income tax. Expenses directly related to employment income and not reimbursed by the employer may be deducted. Commuting costs are not deductible. Moving expenses are deductible if paid in connection with th

16、e commencement of work as an employee or as a self-employed individual at a new principal place of work. The new principal place of work must be at least 50 miles farther from the former residence than was the former principal place of work or, if there was no former place of work, at least 50 miles

17、 from the individuals former residence. In addition, time-in-employment requirements must be met at the new principal place of work. 1.3.2.Benefits in kind1.3.2.1.Employer provided benefitsBenefits received in kind from an employer constitute taxable income unless expressly excluded by statutory pro

18、vision. These benefits are referred to in the United States as fringe benefits. Exclusions are provided in the following cases:services provided to the employee that are the same as that offered by the employer to customers in the ordinary course of the employers business, if no substantial addition

19、al cost is incurred by the employer in providing such service to the employee;qualified employee discounts in the purchase of goods or services sold by the employer;benefits provided that are part of the working conditions, for example, the use of a company car for business purposes;fringe benefits

20、that are de minimis in value;（5）qualified transportation fringe benefits, for example transit passes or parking spaces that do not exceed in value specified monthly amounts;（6）reimbursed amounts for qualified moving expenses;（7）qualified educational tuition reductions;（8）meals and lodging furnished

21、for the convenience of the employer;（9）benefits provided under dependent care assistance programs.1.3.2.2.Stock optionsThere are three types of stock options available to employees in the United States:Qualified stock options （also referred to as Incentive Stock Options, or ISOs）, which are non-taxa

22、ble at the time of grant or exercise provided that the statutory requirements concerning the option plan and the options granted are satisfied. The employee will receive capital gain treatment if the stock is sold after being held for at least 2 years from the date the option is granted and at least

23、 1 year from the date the stock is acquired. Non-qualified options （also referred to as non-statutory options）, which are non-taxable at the time of grant provided the option does not have a readily ascertainable fair market value on the date of grant. The employee will be taxed at ordinary income t

24、ax ratesat the time the option is exercised if the fair market value of the stock exceeds the exercise price of the option. If the stock is held for more than 1 year after the option is exercised, the employee will receive capital gain treatment. Options granted under employee stock purchase plans w

25、hich meet certain statutory requirements are non-taxable at the time of grant or exercise provided that the statutory requirements concerning the option plan and the options granted are satisfied. If the stock is held by the employee for at least 2 years from the date the option is granted and at le

26、ast 1 year from the date the stock is acquired, the employee will receive capital gain treatment when the stock is sold. For all three types of stock options, the options can be exercised for the stock of the company issuing the option or for the stock of its parent or subsidiary corporation. Incent

27、ive plans that function in a manner similar to stock options, such as stock appreciation rights （SARs） and phantom stock plans are also used in the United States. 1.3.3.Pension incomePension income from qualified employer-sponsored pension plans, stock bonus plans and profit sharing plans is taxable

28、 income. Distributions are taxable in a manner similar to annuities, i.e. the pro rata amount of each payment that represents the employees contribution to the plan, if any, can be excluded from taxation. Individuals may establish an individual retirement account （IRA）. The maximum amount that may b

29、e contributed to an IRA for the 2012 tax year is USD 5,000. Taxpayers who are aged 50 and over at the end of a taxable year are permitted to make an additional “catch-up” contribution of USD 1,000. If the individual is an active participant in a qualified employer plan, the IRA contribution limit is

30、 reduced to the extent that the taxpayers adjusted gross income exceeds certain threshold amounts. The taxation of distributions from an IRA depends on the type of IRA. In a “Regular IRA”, contributions by the individual are deductible for the taxable year they are made, and all distributions from t

31、he IRA are fully taxable. In a “Roth IRA”, the contributions are non-deductible, and distributions are not taxed provided they are made after the taxpayer has reached the age of 59 1/2 years or are made for certain qualified purposes. A 5-year holding period must also be met. The 5-year holding peri

32、od requires that distributions should not be made until after the end of the 5-year period that begins with the first taxable year for which a contribution was made to the Roth IRA. 1.3.4.Directors remunerationRemuneration received by members of a corporate board of directors is subject to personal