Taxation of immovable property: income may be taxed where the property is located under double tax agreement rules. Income from immovable property may be taxed in the State where the property is situated; immovable property is defined by that State's law and includes accessories, livestock and equipment used in agriculture and forestry, rights subject to landed property law, usufruct, and rights to payments for working mineral deposits and other natural resources, while excluding ships, boats and aircraft. The source state taxing rule covers income from direct use, letting or other use, and applies to enterprises and to immovable property used for independent personal services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxation of immovable property: income may be taxed where the property is located under double tax agreement rules.
Income from immovable property may be taxed in the State where the property is situated; immovable property is defined by that State's law and includes accessories, livestock and equipment used in agriculture and forestry, rights subject to landed property law, usufruct, and rights to payments for working mineral deposits and other natural resources, while excluding ships, boats and aircraft. The source state taxing rule covers income from direct use, letting or other use, and applies to enterprises and to immovable property used for independent personal services.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
