Kipp, a US

question 128

True/False

Kipp, a U.S.shareholder under the CFC provisions, owns 40% of a CFC.If the CFC's Subpart F income for the taxable year is $200,000, Kipp is not taxed on receipt of a constructive dividend of $80,000 because he doesn't own more than 50% of the CFC.

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Definitions:

Excluded Coverage

Specific situations, conditions, or damages that a insurance policy does not cover.

Customer's Sexual Harassment

Unwanted sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature by a customer.

Employer Liability

Employer liability is a legal concept where employers are held responsible for actions or negligence of their employees performed in the course of employment.

Title VII

An element of the Civil Rights Act of 1964 that prohibits workplace discrimination rooted in race, color, religious orientation, sex, or origin of nationality.