### Question
How does NORMAL TAXES AND SURTAXES define qualified activity?


### Answer
Under *26 U.S.C. § 952*, **qualified activity** is defined as:

> any activity giving rise to—


(I) foreign base company oil related income,


(II) foreign base company sales income,


(III) foreign base company services income,


(IV) in the case of a qualified insurance company, insurance income or foreign personal holding company income, or


(V) in the case of a qualified financial institution, foreign personal holding company income

#### Citation:
  - *26 U.S.C. § 952*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter N-Tax Based on Income From Sources Within or Without the United States > PART III-INCOME FROM SOURCES WITHOUT THE UNITED STATES > Subpart F-Controlled Foreign Corporations**

