In: Accounting
International Taxation Question
Bob is a U.S. person and Boris is a foreign person. Each owns 50% of the stock in ForCo. Bob can appoint three members of ForCo's board of directors, and Boris can appoint two members of ForCo's board of directors. Is ForCo a CFC? Why or why not?
Bob is a U.S. person and Boris is a foreign person. Each owns 50% of the stock in ForCo.