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Article: Foreign recipients of U.S. income, 2005.
- Article from:
- Statistics of Income. SOI Bulletin
- Article date:
- January 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 U.S. Government Printing Office. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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United States-source income of nonresident alien individuals and other foreign persons is reported on Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding. This income is subject to a flat, statutory tax rate of 30 percent. However, this rate is frequently reduced or eliminated by way of an income tax treaty or statutory exemption (see Table 1 for the amount of income exempt from taxation). Income that is exempt from taxation because of a tax treaty or certain other exemptions must still be reported. The principal types of income are interest, dividends, notional principal contract income, rents, royalties, Social Security and railroad retirement ...