Controlled foreign corporations (CFC) will not be taxed on their foreign income currently if:
A) the foreign tax rate is less than 90% of the U.S. corporate income tax rate.
B) Subpart F income is less than 70% of the CFC's total income.
C) Subpart F income is less than 5% of the CFC's total income.
D) None of the above
Correct Answer:
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