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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)?


Definitions:

FeAsS

Also known as Arsenopyrite, it is a mineral consisting of iron, arsenic, and sulfur.

Realgar

A red-orange arsenic sulfide mineral, historically used as a pigment and in fireworks.

Formula

A symbolic representation of the composition of a chemical compound, showing the elements present and their relative proportions.

AsS

Arsenic sulfide, a compound of arsenic and sulfur, known for its use in pigments and in various chemical reactions.

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