SUBPART F Definition

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SUBPART F of the Internal Revenue Code requires certain income (called subpart F income) of a controlled foreign corporation to be currently included in the gross income of its U.S. shareholder, whether or not this income actually is distributed to the U.S. shareholder.

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NCD is Negotiable Certificate of Deposit.

DEPOSITS IN TRANSIT is deposits made to a bank account that have not been credited to the bank statement.

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