What makes a foreign corporation a Controlled Foreign Corporation (CFC)?
I've been told my foreign company might be a CFC, but I'm not sure I understand the definition. I'm a U.S. green card holder and I own 30% of a company incorporated in the UK. My brother, who is also a U.S. resident, owns another 25%. The remaining 45% is owned by a British citizen who has no U.S. ties. Is our company a CFC? Does it matter whether we own voting shares or non-voting shares?
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