Examples of CFC in a sentence
Enter the pro-rata share of items taken into account in computing the adjusted net income or loss of a CFC.
Enter the income, war profits, and excess profits taxes (within the meaning of section 901) imposed by a foreign country or U.S. territory which are taken into account on the CFC's AFS with respect to which the applicable corporation is a U.S. shareholder and paid or accrued (for federal income tax purposes) by the CFC.
A foreign income tax is eligible to be claimed as a CAMT FTC (eligible tax) in the tax year in which it is paid or accrued for federal income tax purposes by either an applicable corporation or a CFC with respect to which the applicable corporation is a U.S. shareholder, provided the foreign income tax has been taken into account on the AFS of such applicable corporation or CFC.
Exclude any CFC income, war profits, and excess profits taxes (within the meaning of section 901) with respect to a foreign country or U.S. territory which are taken into account on the CFC's AFS in the deferred income tax provision.Line 4.
Exclude any CFC income, war profits, and excess profits taxes (within the meaning of section 901) with respect to a foreign country orU.S. territory which are taken into account on the CFC's AFS in determining net income in other places.Part IV—Alternative Minimum Tax—Corporations Foreign Tax CreditComplete Part IV if an applicable corporation elects to take the section 901 foreign tax credit for regular tax.