1. Able Corporation, a US corporation owns 50% of Smith Corporation, a UK corporation. Smith Corporation owns 51% of Leeam Corporation, an India corporation. USA also owns 10% of Leeam corporation. Will Leeam be considered a CFC? Explain your answer. 2. A is not a resident of the US and does not hold a green card. A arrived in the US on July 1, 2019 to work at the US subsidiary of his employer. From July 1 to July 5 A was looking for housing in the US. Will A be considered a US resident or non resident alien for 2019? Explain your answer. 3. Assume Asia Inc. is owned 100% by USCO, a US corporation. Further assume the income tax rate in Asia's country of incorporation is 40% and Asia established a sales branch in Ireland. The corporation tax rate in Ireland is 12.5%. How will the branch be treated for US tax purposes? Explain your answer. 1. Able Corporation, a US corporation owns 50% of Smith Corporation, a UK corporation. Smith Corporation owns 51% of Leeam Corporation, an India corporation. USA also owns 10% of Leeam corporation. Will Leeam be considered a CFC? Explain your answer. 2. A is not a resident of the US and does not hold a green card. A arrived in the US on July 1, 2019 to work at the US subsidiary of his employer. From July 1 to July 5 A was looking for housing in the US. Will A be considered a US resident or non resident alien for 2019? Explain your answer. 3. Assume Asia Inc. is owned 100% by USCO, a US corporation. Further assume the income tax rate in Asia's country of incorporation is 40% and Asia established a sales branch in Ireland. The corporation tax rate in Ireland is 12.5%. How will the branch be treated for US tax purposes? Explain your