Framatome Connectors USA, Inc. v. Comm'r
United States Tax Court
Controlled Foreign Corporation Issue : In 1992, Burndy-US (B-US), a predecessor of Framatome Connectors USA, Inc., one of the petitioners (Ps), owned 50 percent of the stock of Burndy-Japan (B-J). Furukawa Electric Co. (F) and Sumitomo Electrical Indus., Ltd.
Read the full summary
Controlled Foreign Corporation Issue : In 1992, Burndy-US (B-US), a predecessor of Framatome Connectors USA, Inc., one of the petitioners (Ps), owned 50 percent of the stock of Burndy-Japan (B-J). Furukawa Electric Co. (F) and Sumitomo Electrical Indus., Ltd. (S), each owned 25 percent of the stock of B-J. Ps contend that B-US owned more than 50 percent of the voting power of B-J stock and owned more than 50 percent of the value of B-J stock, and that, as a result, B-J was a controlled foreign corporation (CFC) in 1992 under both sec. 957(a)(1) and ( 2), I.R.C. Held: B-J was not a CFC in 1992…
1Opinion of the Court
TABLE OF CONTENTS
FINDINGS OF FACT Page 34
A. Petitioners, Their Predecessors, Furukawa, and Sumitomo . CO
1. The Framatome Companies. CO
2. Bumdy-US . CO m
3. Furukawa and Sumitomo . CO C5
B. Japanese Ministry of International Trade and Industry . CO a
C. Bumdy-Japan . CO Gi
1. Formation. CO O
2. Agreements Between Burndy-US, Furukawa, and Sumitomo From 1962 to 1973 . CO
3. 1973 Basic Agreement. CO
4. Bumdy-Japan’s Presidents and Board of Directors . CO
5. 1988 Technical Assistance Agreement. ^
6. Bumdy-Japan’s Independence From Bumdy-US . ^
7. Bumdy-US’s Purchase of 40 Percent of the Stock of Bumdy-Japan…
2Cases cited44 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Higgins v. SmithSupreme Court of the United States · 1940
- Commissioner v. National Alfalfa Dehydrating & Milling Co.Supreme Court of the United States · 1974
- United States v. DavisSupreme Court of the United States · 1962
39 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Maloof v. Comm'rUnited States Tax Court · 2005
- Framatome Connectors USA, Inc. v. CommissionerCourt of Appeals for the Second Circuit · 2004
- New York Guangdong Finance, Inc. v. CommissionerCourt of Appeals for the Fifth Circuit · 2009
- Howell v. Comm'rUnited States Tax Court · 2012
- Altria Group, Inc. v. United StatesDistrict Court, E.D. Virginia · 2025
8 more not listed; retrieve them via the Exa API.