A controlled foreign corporation (CFC) is
A) a foreign corporation established as an affiliate of a U.S.corporation for the purpose of "buying" from the U.S.corporation property for resale and use abroad.
B) a foreign subsidiary that has more than 50 percent of its voting equity owned by U.S.shareholders.
C) a separate domestic U.S.corporation actively engaged in business in a U.S.possession (Puerto Rico and the U.S.Virgin Islands) .
D) one that has no "overall limitation" in regards to its foreign tax credits.
Correct Answer:
Verified
Q57: In a given year,the U.S.IRS places an
Q58: In a growing economy,the VAT would raise
Q59: In a given year,the U.S.IRS places an
Q60: The worldwide method of declaring a national
Q61: An uncontrolled foreign corporation is
A)an extension of
Q63: The higher the transfer price
A)the higher the
Q64: Affiliate A sells a million units to
Q65: The lower the transfer price,
A)the higher the
Q66: Suppose a U.S.-based MNC makes bicycles with
Q67: A "tax haven" country is one that
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents