A Foreign Corporation with a Single Class of Stock Is

question 1

Essay

A foreign corporation with a single class of stock is owned equally by Jericho Corporation, a U.S. corporation, and Joshua, a nonresident alien. Joshua owns no Alpha Corporation stock. Is the foreign corporation a controlled foreign corporation (CFC)?

---

Definitions:

Transcendental Meditation

A technique for detaching oneself from anxiety and promoting harmony and self-realization by meditation, repetition of a mantra, and other yogic practices.

Fatty Acid

A long chain of hydrocarbon derived from the breakdown of fats, important in diet and metabolism.

Cholesterol

A waxy, fat-like substance found in all the cells of the body, involved in the synthesis of vitamin D, some hormones, and bile acids for digestion, but high levels may lead to heart disease.

Blood Pressure

the pressure of circulating blood against the walls of blood vessels, a critical vital sign indicating the health of the cardiovascular system.