controlled foreign corporation

Tax. A foreign corporation in which more than 50% of the stock is owned by U.S. citizens who each own 10% or more of the voting stock.

• These shareholders (known as U.S. shareholders) are required to report their pro rata share of certain passive income of the corporation. — Abbr. CFC. IRC (26 USCA) §§ 951–964. [Cases: Internal Revenue 4119. C.J.S. Internal Revenue § 484.]

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词条贡献者

双语律师Terence，国际知名法学院法律专业，擅长翻译各类与油气、资源与采矿业相关的法律文件。