Income tax in the United States ordinary income, capital gains, and creditable foreign taxes. The owners then include these items in their own tax calculation. The fund itself is not taxed, and distributions are treated as a return of capital to the owners. Similar rules apply to real estate investment trusts and real estate mortgage investment conduits. The United States imposes tax on all citizens of the United States, including those who are residents of other countries, and U.S. corporations. Federal income tax is imposed on citizens, residents, and U.S. corporations based on their worldwide income. To mitigate double taxation, a credit is allowed for foreign
Hall income tax of Hall income tax distributions was Belle Meade, a wealthy enclave in Metropolitan Nashville-Davidson County, which received a per capita distribution of $491.68. At the low end, 14 municipalities had no income from the Hall tax. Per capita distributions to counties ranged from a high of $15.41 to Williamson County to a low of $0.40 to Hancock County. Although the Hall income tax is a relatively minor source of revenue for most local governments, it is a major source of funds for a few small municipalities, particularly those with wealthy residents. The government of the City of Belle Meade receives