Western Hemisphere Trade Corporation

Western Hemisphere Trade Corporation

An American company that derives 95% or more of its income from countries in the Western hemisphere except for the United States. Under the 1939 Internal Revenue Code, western hemisphere trade corporations qualified for lower than normal corporate tax rates.
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References in periodicals archive ?
if the corporation holds a special status (personal holding company, exempt organization, foreign corporation, Western Hemisphere trade corporation or China Act trade corporation), the corporation holds the same special status during the short period and the immediately preceding tax year.
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