ForCo, a Foreign Corporation Not Engaged in a U

question 141

Multiple Choice

ForCo, a foreign corporation not engaged in a U.S. trade or business, recognizes a $3 million gain from the sale of land located in the United States. The amount realized on the sale was $50 million. Absent any exceptions, what is the required withholding amount on the part of the purchaser of this land?

• A) $0
• B) $3 million
• C) $300,000
• D) $5 million

---

Definitions:

Comprehensive Plan

A detailed document that describes the long-term planning goals and objectives of a community, including land use, housing, transportation, and community resources.