A Foreign Corporation with a Single Class of Stock Is

question 78

Essay

A foreign corporation with a single class of stock is owned 8% by Bert, 49% by Xi Yong, 30% by Ernie, and 13% by Mark. Bert, Ernie, and Mark are U.S. citizens, and Xi Yong is a nonresident alien. Bert is Ernie's son. Is the foreign corporation a controlled foreign corporation (CFC)?

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Definitions:

Convert

To change something into a different form or format, often to make it compatible with a different system or to serve a new purpose.

Conditional Expressions

Logical statements in programming that execute different actions depending on whether a specified condition is true or false.

After Update

An event or trigger in database and application programming that occurs immediately following the update of a record or data entry.

Table Macro

A predefined set of operations in software to automate tasks within a table, such as formatting or data insertion.