(b) Exemption. Subject to such terms and conditions as may be provided by regulations prescribed by the Secretary, subsection (a) shall not apply in the case of a foreign corporations engaged in trade of busines int he UNitesStates if the Secretary determines that the requirements of subsection (a) impose an undue administrative burden and that the collection of the tax imposed by section 881on such corporation will not be jeopardized by the exemption.
(c) Exception for certain possessions corporations. For purposes of this section, the term "foreign
corporation" does not include
a corporation created or organized in Guam, American Samoa, the Northern Marianna Islands, or the Virgin Islands or
under the law of any such possession if the requirements of subparagraphs (A), (B), and (C) of section 881(b)(1)
are met with respect to such corporation.
Last Update: 02/21/97
Web Author: The Disciples of Truth
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