The IRS, under its Statistics of Income (SOI) program, has published tables for the Tax Year 2019 Foreign-Controlled Domestic Corporation study. (IRS Tax Stats Dispatch 2022-06)
The tables are based on data from the Form 1120 series for domestic corporations with 50%-or-more stock ownership by a single foreign "person." The data are classified by industry group, country, and age of the corporation.
According to SOI, there were 134,000 federal income tax returns filed by foreign-controlled domestic corporations (FCDCs) for tax year 2019. These returns accounted for 2.1% of all corporate returns filed for that year.
"However, the FCDCs were often large companies, with a combined $15.9 trillion of assets and $6.4 trillion of receipts," SOI stated.
"They reported 13.9% of the assets and 17.9% of the receipts of all corporations." Manufacturing companies accounted for $2.9 trillion of the FCDC receipts.
Domestic companies with owners based in Japan produced $1 trillion of receipts, followed by owners from the United Kingdom and the Netherlands, with $900 billion each.
Have an IRS Tax Problem?