high-taxed income
Defined in 1 place of the United States Code.
The term "high-taxed income" means any income which (but for this subparagraph) would be passive income if the sum of—
(i) the foreign income taxes paid or accrued by the taxpayer with respect to such income, and
(ii) the foreign income taxes deemed paid by the taxpayer with respect to such income under section 902 1 or 960,
Source
- 2017–present26 U.S.C. § 904Internal Revenue Code · Limitation on credit · in this section
The term “high-taxed income” means any income which (but for this subparagraph) would be passive income if the sum of—
(i) the foreign income taxes paid or accrued by the taxpayer with respect to such income, and
(ii) the foreign income taxes deemed paid by the taxpayer with respect to such income under section 902 or 960,
Source
- 1994–201726 U.S.C. § 904Internal Revenue Code · Limitation on credit · in this section