Income tax in the United States income taxes. This foreign tax credit is limited to that part of current year tax caused by foreign source income. Determining such part involves determining the source of income and allocating and apportioning deductions to that income. States tax resident individuals and corporations on their worldwide income, but few allow a credit for foreign taxes. In addition, Federal income tax may be imposed on non-resident non-citizens, including corporations, on U.S. source income. Federal tax applies to interest, dividends, royalties, and certain other income of nonresident aliens and foreign corporations at a flat rate of 30%. This rate is often reduced
Citizens for Tax Justice CTJ is generally considered a liberal organization, but its research has also been cited by Republican politicians (including President Ronald Reagan) and right-wing tax reform organizations when favorable to their policies. The organization's 2013 Form 990 Tax Return states its purpose is "to promote social welfare." The organization's president, Wayne Cox, is Executive Director of Minnesota Citizens for Tax Justice. CTJ, a 501(c4) organization, is directed by Robert S. McIntyre. Many of the reports written by Citizens for Tax Justice rely on analyses produced by the "ITEP Microsimulation Tax Model", which is housed at its partner organization, the Institute on