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LB 1116 LB 1116 LEGISLATIVE BILL 1116 Approved by the Governor April 13, 2000, Introduced by Scheme, 27; Beutler, 28; Lands, 46; Price, 26; Raises, 25 AN ACT relating to cities; to amend sections
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lb 1116 is a tax form used for reporting detailed information on foreign tax credits.
Individuals or businesses who have foreign tax credits to claim are required to file lb 1116.
To fill out lb 1116, you will need to provide detailed information about the foreign taxes paid or accrued.
The purpose of lb 1116 is to calculate and claim foreign tax credits to offset US tax liabilities on income earned abroad.
Information such as the foreign country where the tax was paid, type of income, amount of tax paid, and the conversion rate used must be reported on lb 1116.
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