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What does DRC stand for?

DRC stands for Dual Resident Corporation

This definition appears somewhat frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

See other definitions of DRC

Other Resources:
We have 403 other meanings of DRC in our Acronym Attic

Samples in periodicals archive:

13) The elegance of this rule is illustrated by simple contrast to the general rule contained in the 1992 Regulations, which accomplishes essentially the same result: Except as otherwise provided in this section, a dual consolidated loss of a dual resident corporation cannot offset the taxable income of any domestic affiliate in the taxable year in which the loss is recognized or in any other taxable year, regardless of whether the loss offsets income of another person under the income tax laws of a foreign country and regardless of whether the income that the loss may offset in the foreign country is, has been, or will be subject to tax in the United States.
It recommended that the rules clarify that a domestic corporation will be considered a dual resident corporation only if it is itself subject to income tax in the foreign country, either directly or because, under foreign law, it is severally liable as a member of a foreign consolidated or combined tax return.