Controlled Foreign Corporations, 2000

was prepared under the direction of Chris Carson, Chief. F or Tax Year 2000, the 7,500 largest foreigncorporations controlled by large U.S. multina-tional corporations held $4.4 trillion in assets and reported receipts of $2.2 trillion. These amounts increased from Tax Year 1998 by 35.6 percent and 23.3 percent, respectively [1]. The 7,500 largest foreign corporations paid $43.1 billion in income taxes on $207.6 billion in earnings and profits (less deficit) before income taxes. These amounts are 24.2 percent and 44.3 percent increases from Tax Year 1998, respectively. Almost 78 percent, or 5,849, of the 7,500 largest controlled foreign corporations (CFC’s) were con-centrated in three major industrial sectors: goods production, services, and finance, insurance, real estate, and rental and leasing. These three industrial sectors accounted for 84.5 percent of assets ($3,688.7 billion), 70.6 percent of total receipts ($1,522.9 billion), 69.0 percent of income taxes ($29.8 billion), and 79.0 percent of earnings and profits (less deficit) before income taxes ($164.0 billion). For Tax Year 2000, the 7,500 largest CFC’s were incorporated in 107 different countries [2]. Almost 53 percent, or 3,951 CFC’s, were incorpo-rated in Europe. More than 92 percent of thes