The deemed paid foreign tax credit is available only to U.S.corporations that own 30% or more of the voting stock of a foreign corporation that paid dividends during the taxable year.

Question

Quizplus · Accepted Answer

The deemed paid foreign tax credit is available to U.S. corporations that own at least 10% of the voting stock of a foreign corporation, not 30%.

The Deemed Paid Foreign Tax Credit Is Available Only to U.S.corporations