### Question
How is the "specified 10-percent owned foreign corporation" defined?


### Answer
The term **specified 10-percent owned foreign corporation** is defined in *26 U.S.C. § 245A* as follows -

> any foreign corporation with respect to which any domestic corporation is a United States shareholder with respect to such corporation

#### Citation:
  - *26 U.S.C. § 245A*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VIII-SPECIAL DEDUCTIONS FOR CORPORATIONS**

