Analog Devices v. Comm'r
United States Tax Court
P is a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC). P repatriated cash dividends from the CFC and claimed an 85% I.R.C. sec. 965 dividends received deduction (DRD) for 2005. P reported no related party indebtedness during its testing period pursuant to I.R.C. sec. 965(b)(3) when it claimed the DRD. R determined, and P agreed, that the annual 2% royalty from CFC to P should be increased to 6% for 2001-05 to reflect arm's-length pricing.
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P is a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC). P repatriated cash dividends from the CFC and claimed an 85% I.R.C. sec. 965 dividends received deduction (DRD) for 2005. P reported no related party indebtedness during its testing period pursuant to I.R.C. sec. 965(b)(3) when it claimed the DRD. R determined, and P agreed, that the annual 2% royalty from CFC to P should be increased to 6% for 2001-05 to reflect arm's-length pricing. SeeI.R.C. sec. 482. In 2009 P and R executed a closing agreement pursuant to Rev. Proc. 99-32, 1999-2 C.B. 296, to effect…
1Opinion of the Court
ANALOG DEVICES, INC. & SUBSIDIARIES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Analog Devices v. Comm'r
Docket No. 17380-12.
United States Tax Court
2016 U.S. Tax Ct. LEXIS 32; 147 T.C. No. 15;
November 22, 2016, Filed
Decision will be entered for petitioner.
P is a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC). P repatriated cash dividends from the CFC and claimed an 85% I.R.C. sec. 965 dividends received deduction (DRD) for 2005. P reported no related party indebtedness during its testing period pursuant to I.R.C. sec. 965(b)(3) when it claimed…
Also in this document: Concurrence; Dissent.
2Cases cited36 opinions
- Payne v. TennesseeSupreme Court of the United States · 1991
- Vasquez v. HillerySupreme Court of the United States · 1986
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- John R. Sand & Gravel Co. v. United StatesSupreme Court of the United States · 2008
- Burnet v. Coronado Oil & Gas Co.Supreme Court of the United States · 1932
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3Cited by1 opinion
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