Tag: EF

Effectively Connected Income means:foreign-source income of a foreign business that is attributable to a U.S. office and, in the case of sales income, is realized without material participation of a foreign office. A foreign corporation is subject to U.S. corporate taxation on any taxable income…

Effective Date means:the date on which a new tax provision takes effect; often the date when the provision was first submitted to the House Ways and Means Committee, or when it was signed into law by the president. Former IRC (check if t…

Effective Tax Rate means:the rate at which a taxpayer would be taxed if his or her tax liability were taxed at a constant rate rather than progressively. The effective tax rate is computed by determining what percentage the taxpayer's tax liability is of his or her total taxable income. See aver…