Important
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For information call now:
(347) 989-4566
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Additional information
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Internal Revenue Service
Austin Service Center
ITIN Operation
P.O. Box 149342
Austin, TX 78714-9342
IN
1-800-829-1040
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Asset-Use Test
This test usually applies to income that is not directly produced by trade or
business activities. Under this test, if an item of income is from assets
(property) used in, or held for use in, the trade or business in the United
States, it is considered effectively connected.
An asset is used in, or held for use in, the trade or business in the United
States if the asset is:
� Held for the principal purpose of promoting the conduct of a trade or business
in the United States,
� Acquired and held in the ordinary course of the trade or business conducted in
the United States (for example, an account receivable or note receivable arising
from that trade or business), or
� Otherwise held to meet the present needs of the trade or business in the
United States and not its anticipated future needs.
Generally, stock of a corporation is not treated as an asset used in, or held
for use in, a trade or business in the United States.
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