The Internal Revenue Service released its summer 2008 Statistics of Income Bulletin, featuring tax year 2005 data on the growth of profits and tax liability at foreign-controlled domestic corporations.

There were 61,820 foreign-controlled domestic corporations as of 2005, accounting for 1.1 percent of the total of all U.S. corporations. However, FCDCs generated $3.5 trillion of total receipts with $9.2 trillion of total assets, accounting for 13.7 percent of receipts and 13.9 percent of assets reported on all U.S. corporation income tax returns.

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