United States

The US levies a flat federal corporate tax, with states adding their own income and sales taxes. There is no federal VAT. The One Big Beautiful Bill Act of July 2025 reshaped much of the federal code, and the IRS continues to issue implementing regulations.

Recent judgments and rule changes

Key laws

Internal Revenue Code (Title 26)Federal income, estate, gift and excise taxes.
One Big Beautiful Bill Act (2025)Major 2025 tax law; implementing regulations are still being issued.
Treasury RegulationsBinding guidance interpreting the Code, issued as T.D.s.
FATCA / FBARReporting of foreign accounts by US persons — relevant to US-resident Indians.

Official sources

IRS
US Tax Court
SEC

Working with India

Doing business between India and United States? We advise on the Indian side — treaty relief, withholding, FEMA and transfer pricing documentation. Talk to us.