shopping_cart

Your shopping cart is empty

United States entity considerations in the Trump era

Member Price: $35.00
Non Member Price: $45.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 01 Apr 18 by "THE TAX SPECIALIST" JOURNAL ARTICLE

The introduction of the Trump reforms is reshaping the way businesses and private clients analyse entity choice within the US and abroad. The way US corporations and flow-through entities are classified and taxed, and the choices available to taxpayers, have always created planning opportunities for Australian businesses expanding into the US and families investing in the US. Under the US “check-the-box” (CTB) regime, eligible entities such as limited liability companies, Australian general and limited partnerships, Australian unit trusts and Australian proprietary limited companies can elect for their tax classification as either a corporation or transparent entity, subject to certain requirements. This article provides an overview of the CTB regime and the US income tax issues that drive entity choice. This is important for Australian businesses who are expanding into the US and families that are investing in the US, with particular focus on the new tax reform rules introduced by President Trump.

 

Author profiles

Peter Harper
Peter is an Australian tax lawyer, international tax adviser and market entry specialist. He has spent most of his career advising foreign owned privately held businesses on US market entry, and founders and executives on the migration impact of becoming citizens of “expatland”. Market entry and global migration are complex areas of tax law, and when proper advice is not obtained, he is also called on to coordinate the resolution of multi-jurisdictional international tax controversies. Peter’s core focus is extracting value for founders and executives, and he believes in a “stakeholder framework” to corporate taxation. The “stakeholder framework” encompasses the development of tax strategy that facilitates value extraction for founders and executives, rather than for the corporations that such founders have created and such executives manage. Peter advises entrepreneurs and business owners, private clients, family offices, private wealth managers and listed corporations on: international expansion; executive migration; cross-border mergers and acquisitions; and international estate and succession planning. Peter has presented seminars for various global wealth management firms, the International Franchise Association, the American Australian Association, KEA New Zealand, and Advance. Peter is a member of the New South Wales Law Society, the New York Bar Association, the Georgia Bar Association, and the Society of Trusts and Estates Practitioners.
Current at 1 March 2017
Click here to expand/collapse more articles by Peter Harper.
Jurate Gulbinas
Jurate holds a Bachelor of Literature degree, a Masters of Business Administration from the National University in San Diego, and a Master of Science in Taxation from Golden Gate University in San Francisco. She also received a Certificate in International Taxation from Golden Gate University. Jurate specialises in cross-border tax and compliance issues for both individual and business clients. Jurate is a member of the American Society of Public Accounts, the California Society of CPAs, and the Accounting and Financial Women’s Alliance.
Current at 1 March 2017
Click here to expand/collapse more articles by Jurate Gulbinas.
Matthew MARCARIAN
Click here to expand/collapse more articles by Matthew MARCARIAN.
Aman Mullee
Amanvir is an Australian tax lawyer and an expert in US–Australian cross-border tax issues. Amanvir has experience working on complex international M&A transactions in his previous position in deal advisory tax for a Big 4 accounting firm. Amanvir has completed his CTA level 2 and is a qualified solicitor in New South Wales. Amanvir specialises in advising privately held businesses on international tax issues, and entrepreneurs and executives on the taxation impact of relocating between the US and Australia. Amanvir has advised listed companies, entrepreneurs and family offices on a broad range of international tax issues, including to income tax, capital gains tax and estate planning.
Current at 1 March 2017
Click here to expand/collapse more articles by Aman Mullee.

 

Copyright Statement