The Income of Foreign Corporation Doing Business in the United

Multiple Choice

The income of foreign corporation doing business in the United States
I.Is taxed like a U.S. corporation if it is effectively connected trade or business income.
II.Is taxed at a flat rate of 30% if it is interest and dividend income.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.