amount of gross receipts from such activities for the taxable year do not exceed $30,000. (B) Exception Subparagraph (A) shall not apply with respect to— (i) income which is qualified wages (as defined in paragraph (2)(B), determined without regard to clause (ii) thereof), or (ii) income which is effectively connected with a United States permanent establishment. (b) Income connected with a United States permanent establishment of a qualified resident of Taiwan (1) In general (A) In general In lieu of applying sections 871(b) and 882, a qualified resident of Taiwan that carries on a trade or business within the United States through a United States permanent establishment shall be taxable as provided in section 1, 11, 55, or 59A, on its taxable income which is effectively connected with such permanent establishment. (B) Determination of taxable income In determining taxable income for purposes of paragraph (1), gross income includes only gross income which is effectively connected with the permanent establishment. (2) Treatment of dispositions of United States real property In the case of a qualified resident of Taiwan, section 897(a) shall be applied— (A) by substituting carried on a trade or business within the United States through a United States permanent establishment for were engaged in a trade or business within the United States , and (B) by substituting such United States permanent establishment for such trade or business . (3) Treatment of branch profits taxes In the case of any corporation which is a qualified resident of Taiwan, section 884 shall be applied— (A) by substituting 10 percent for 30 percent in subsection (a) thereof, and (B) by substituting a United States permanent establishment of a qualified resident of Taiwan for the conduct of a trade or business within the United States in subsection (d)(1) thereof. (4) Special rule with respect to income derived from certain entertainment or athletic activities (A) In general Paragraph (1) shall not apply to the extent that the income is derived—