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)?

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Definitions:

Foramen Magnum

The opening in the vertebrate skull through which the spinal cord passes.

Arboreal

Living in trees.

Earliest Primates

The most ancient members of the primate order, believed to have appeared in the Paleocene epoch, characterized by adaptations for arboreal life.

Homo Erectus

Species that originated in Africa about 1.7 mya and then spread to Europe and Asia; may have persisted until 200,000 years ago or later; may be an evolutionary dead end.