A Controlled Foreign Corporation (CFC)is

question 93

Multiple Choice

A controlled foreign corporation (CFC) is

• A)a foreign corporation established as an affiliate of a U.S.corporation for the purpose of "buying" from the U.S.corporation property for resale and use abroad.
• B)a foreign subsidiary that has more than 50 percent of its voting equity owned by U.S.shareholders.
• C)a separate domestic U.S.corporation actively engaged in business in a U.S.possession (Puerto Rico and the U.S.Virgin Islands).
• D)one that has no "overall limitation" in regards to its foreign tax credits.