Usually a subsidiary is a corporation incorporated under the laws of the foreign country, with the U. S. firm owing at least 51% of the stock.

通常情况下，子公司乃根据外同法律成立的股份公司，其中美国公司拥有至少51%的股权。

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Alternatively, the proposal would tax certain intangible property related income on a current basis at a rate of 15%, whether derived directly by a U.S. corporation or by a foreign subsidiary.

FORBES: Territorial Tax Proposal Provides a Look into the Future of Corporate Taxation