Foreign Personal Holding Company Law and Legal Definition
Foreign personal holding company is a foreign corporation, the primary part of the income of which is personal holding company income and the stock of which is owned to the extent of 50 percent in value by less than six individual United States citizens or residents.
A foreign corporation which comes within the classification of a foreign personal holding company is not subject to taxation. The fact that a foreign corporation is a foreign personal holding company does not relieve the corporation from liability for the taxes imposed generally upon foreign corporations. [26 CFR 1.552-1].
Legal Definition list
Related Legal Terms
- Accidental Personal Injury
- Accompanying Relative [Immigration]
- Accompanying Spouse and Dependents
- Accompanying the Armed Forces outside the United States
- Accompanying the Federal Government Outside the United States
- Accompanying Visa
- Accountable Personal Property
- Actio Personalis Moritur Cum Persona
- Adoption Record [Foreign Relations]
- Adoption Service [Foreign Relations]