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U.S. - Source Interest Income from a Lending Business

6 Pages Posted: 30 Dec 2009  

Jonathan Zhu

Wilson Sonsini Goodrich & Rosati

Myra Sutanto Shen

Wilson Sonsini Goodrich & Rosati

Brett R. Dick

Jones Day

Date Written: November 16, 2009

Abstract

A recent chief counsel memorandum held that U.S. - source interest income of a foreign corporation is income effectively connected with that corporation's lending business. This article evaluates the analysis of the memorandum and concludes that its position is incorrect under current law.

Keywords: effectively connected income, U.S. trade or business, lending business

JEL Classification: K34

Suggested Citation

Zhu, Jonathan and Shen, Myra Sutanto and Dick, Brett R., U.S. - Source Interest Income from a Lending Business (November 16, 2009). Tax Notes, Vol. 125, No. 7, p. 785, 2009. Available at SSRN: https://ssrn.com/abstract=1529530

Jonathan Zhu (Contact Author)

Wilson Sonsini Goodrich & Rosati ( email )

650 Page Mill Rd
Palo Alto, CA 94304-1050
United States

Myra Sutanto Shen

Wilson Sonsini Goodrich & Rosati ( email )

650 Page Mill Rd
Palo Alto, CA 94304-1050
United States

Brett R. Dick

Jones Day ( email )

901 Lakeside Avenue
North Point
Cleveland, OH 44114-1190
United States

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