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Controlled foreign corporations (CFC) will not be taxed on their foreign income currently if: a.the foreign tax rate is less than 90% of the U.S.
Controlled foreign corporations (CFC) will not be taxed on their foreign income currently if:
a.the foreign tax rate is less than 90% of the U.S. corporate income tax rate.
b.Subpart F income is less than 70% of the CFC's total income.
c.Subpart F income is less than 5% of the CFC's total income.
d.none of the above
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