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True or False a.) A U.S. corporations gross profit from sale of inventory it manufactures in the United States will be treated entirely as U.S.

True or False a.) A U.S. corporations gross profit from sale of inventory it manufactures in the United States will be treated entirely as U.S. source income regardless of where title to the inventory passes to the buyer. b.) One of the goals of an income tax treaty between the United States and other countries is to reduce the withholding taxes imposed on cross-border payments such as dividends, interest, and royalties. c.) A U.S. corporation owning 100 percent of a Dutch corporation will be eligible for a foreign tax credit for withholding taxes imposed on dividends received from the corporation. d.) Subpart F of the Internal Revenue Code was enacted to prevent the deferral of U.S. taxation on certain types of passive income earned by foreign corporations controlled by U.S. shareholders

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