Given the following information,determine if FanCo,a foreign corporation,is a CFC.
$\begin{array}{lcc}
\textbf { Slareholders of}&\textbf { Voting}\
\textbf { foreign corporation } & \textbf { power } & \textbf { Classification } \
\text { Murray } & 24 \% & \text { U.S. person } \
\text { Nency } & 20 \% & \text { U.S. person } \
\text { Otto } & 40 \% & \text { Foreign persor } \
\text { Patricia } & 16 \% & \text { U.S. person }
\end{array}$

Question

Given the following information,determine if FanCo,a foreign corporation,is a CFC.
 $\begin{array}{lcc}
\textbf { Slareholders of}&\textbf { Voting}\
\textbf { foreign corporation } & \textbf { power } & \textbf { Classification } \
\text { Murray } & 24 \% & \text { U.S. person } \
\text { Nency } & 20 \% & \text { U.S. person } \
\text { Otto } & 40 \% & \text { Foreign persor } \
\text { Patricia } & 16 \% & \text { U.S. person }
\end{array}$

Quizplus · Accepted Answer

The Answer of Given the following information,determine if FanCo,a foreign corporation,is a CFC.
 $\begin{array}{lcc}
\textbf { Slareholders of}&\textbf { Voting}\
\textbf { foreign corporation } & \textbf { power } & \textbf { Classification } \
\text { Murray } & 24 \% & \text { U.S. person } \
\text { Nency } & 20 \% & \text { U.S. person } \
\text { Otto } & 40 \% & \text { Foreign persor } \
\text { Patricia } & 16 \% & \text { U.S. person }
\end{array}$

Given the Following Information,determine If FanCo,a Foreign Corporation,is a CFC