A tax resident has to bear unlimited/worldwide/global tax liability. Jurisdictions can impose tax on their worldwide income, but with some exemptions. Some jurisdictions like H.K. and Macau only tax residents on income sourced within territory.A non-tax resident has limited/territorial tax liabil...
Use tax is a required contribution on sales of goods and services purchased out of state or in instances when sales tax was not collected by the retailer.
India International Exchange (India INX) is the first international stock exchange operating 22 hours a day and six days a week where international investors and Non-Resident Indians (NRIs) can trade from anywhere across the globe at their preferred timings. But many stock exchanges were closed l...
The best example of a non-refundable tax credit is the basic personal amount, which every Canadian resident is entitled to claim on his or her tax return. The basic personal amount for 2022 is $14,398. Instead of paying taxes on your entire income, you only pay taxes on the remaining i...
Individual Taxpayer Identification Number (ITIN).ITIN is a nine-digit number issued to non-resident and resident aliens, their dependents, and spouses who cannot obtain an SSN. ITIN helps individuals comply with U.S. tax laws. However, it is not a substitute for an SSN and does not autho...
New Jersey and Pennsylvania. Many states not only set exemption amounts, but also exclude certain individuals, such as spouses or immediate family members, from paying inheritance tax. If you're anon-resident, you still may be subject to inheritance tax, as well as federal estate tax, on U...
Non-Resident Indians (NRIs) are also eligible to open an NPS account. There are no restrictions based on employment status, and both salaried individuals and self-employed individuals can invest in NPS. However, it is important to note that certain government sector employees, such as central ...
Okay, now that you have a clearer understanding of what a permanent resident is and what citizenship is, you are likely thinking so. Which is better? What do I need? For my Plan B, is permanent residency enough, or do I need a second citizenship?
Does LotterySpy provide information on lottery winner tax planning strategies? Can I use LotterySpy to analyze the frequency of specific sum ranges across multiple lotteries and play options? Does LotterySpy offer a feature to analyze the distribution of repeating and non-repeating digit patterns in...
Non-Residential External (NRE) and Non- Resident Ordinary (NRO) Accounts are the two major categories of accounts available for you, as an NRI. They happen to be amongst the most popular options if you wish to save money in India.