Which statement is true concerning an individual who is a US tax resident and a corporation that is a US tax resident? A. Both an individual who is a US tax resident and a corporation that is a US tax resident pay US income tax on their Worldwide. B. An individual who is a US tax resident pays US income tax only on US sources income and very limited foreign source income while a corporation that is a US tax resident pays US income tax on its worldwide income. C. An individual who is a US tax resident pays US income tax on his worldwide income while a corporation that is a US tax resident pays US income tax only on US source income and very limited foreign source income. D. Both an individual who is a US tax resident and a corporation that is a US tax resident pay US income tax on their worldwide. E. Both an individual who is a US tax resident and a corporation that is a US tax resident pay US income tax only on US source income
Which statement is true concerning an individual who is a US tax resident and a corporation that is a US tax resident?
A. Both an individual who is a US tax resident and a corporation that is a US tax resident pay US income tax on their Worldwide.
B. An individual who is a US tax resident pays US income tax only on US sources income and very limited foreign source income while a corporation that is a US tax resident pays US income tax on its worldwide income.
C. An individual who is a US tax resident pays US income tax on his worldwide income while a corporation that is a US tax resident pays US income tax only on US source income and very limited foreign source income.
D. Both an individual who is a US tax resident and a corporation that is a US tax resident pay US income tax on their worldwide.
E. Both an individual who is a US tax resident and a corporation that is a US tax resident pay US income tax only on US source income
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