A Controlled Foreign Corporation (CFC)is

A controlled foreign corporation (CFC) is:

A) a foreign corporation established as an affiliate of a U.S. corporation for the purpose of "buying" from the U.S. corporation property for resale and use abroad.
B) a foreign subsidiary that has more than 50 percent of its voting equity owned by U.S. shareholders.
C) is a separate domestic U.S. corporation actively engaged in business in a U.S. possession (Puerto Rico and the U.S. Virgin Islands) .
D) one that has no "overall limitation" as regards to its foreign tax credits.

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