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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REICHSMARK is a currency of Germany.

REPURCHASE AGREEMENT (REPO) is a contract in which an investor or securities dealer sells a United States security to a bank or other corporation and agrees to repurchase the security later at a specified time and price, including interest. The investment period ranges from one day to several months, and the purchaser earns interest competitive with money market rates.

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