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:

American Adults

Individuals over the age of 18 who are citizens or permanent residents of the United States.

Hypothalamus Damage

Harm or injury to the hypothalamus, a region of the brain responsible for hormone release and regulation of basic drives such as hunger, thirst, and temperature control.

Weight Gain

The increase in body weight over a period of time, which can result from an increase in muscle mass, fat deposits, or excess fluid retention.

Prevalence of Obesity

The proportion of a population found to be obese, often used to assess public health and nutritional status.