A Foreign Corporation with a Single Class of Stock Is

question 38

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. The shareholders are not related. Is the foreign corporation a controlled foreign corporation (CFC)?

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Definitions:

Specimen Container

A container used in healthcare settings to collect and transport samples, such as blood, urine, or tissue, for diagnostic testing.

Indwelling Urinary Catheter

A medical device inserted into the bladder through the urethra to drain urine for patients who cannot do so naturally.

Double-lumen Catheter

A catheter with two separate channels, allowing for simultaneous infusion and withdrawal of fluids or medications.

Abdominal Surgery

Surgical procedures performed on organs or structures within the abdominal cavity, which can include operations on the stomach, liver, gallbladder, pancreas, intestines, and reproductive organs.