First question on the application:
Do you think that a minority interest (publicly traded on a US exchange) prevents a majority interest foreign owner from being considered to have "control" of a US Corporation as "control" is described under section 482 of the Internal Revenue code?
For those of you wondering just what §482 says................
"26 U.S.C.A. § 482
I.R.C. § 482
United States Code Annotated Currentness
Title 26. Internal Revenue Code (Refs & Annos)
Subtitle A. Income Taxes (Refs & Annos)
Chapter 1. Normal Taxes and Surtaxes (Refs & Annos)
Subchapter E. Accounting Periods and Methods of Accounting
Part III. Adjustments
§ 482. Allocation of income and deductions among taxpayers
In any case of two or more organizations, trades, or businesses (whether or not incorporated, whether or not organized in the United States, and whether or not affiliated) owned or controlled directly or indirectly by the same interests, the Secretary may distribute, apportion, or allocate gross income, deductions, credits, or allowances between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses. In the case of any transfer (or license) of intangible property (within the meaning of section 936(h)(3)(B)), the income with respect to such transfer or license shall be commensurate with the income attributable to the intangible.
Current through P.L. 109-482 (End) approved 01-15-07
Copr. © 2007 Thomson/West. No Claim to Orig. U.S. Govt. Works.
END OF DOCUMENT"
I have no idea what it means because I never got a J.D. 