Controlled Foreign Corporations, 2002.

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    • Abstract:
      The article focuses on controlled foreign corporations (CFC). The 7,500 largest foreign corporations controlled by large U.S. multinational corporations held $5.8 trillion in assets for tax year 2002. About 44.3 percent of end-of -year assets, 11.2 percent of total receipts and 19.7 percent of current earnings and profits before income taxes were accounted for by CFC engaged in finance, insurance, real estate and rental and leasing.