Some banks in the 70s and 80s beagn having subsidiaries where the banked owned real estate and insurance companies, but that practice ended (about 85/86) after the banks were being sued through such affiliations.

You're in a position where I'd want to completely overhaul and take over the accounting functions so that you can go out and double the flips you're undergoing rather than waste time on accounting.One consideration for you - create your own entity and have that entity invest in subsidiaries with your partners when applicable.

Hi Everyone, My business partner is a foreign developer wanted to form a subsidiary in the U.S.

Hi Jay, This group in particular was for profit but they have a non-profit subsidiary. 

It looks like they've transferred a huge number of derivatives into an FDIC insured subsidiary, with the government's permission:http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html

Management Company’s Affiliates and SubsidiariesSometimes you may be faced with the management company using an affiliated company or a subsidiary to perform certain services at the property.

After doing some research my understanding is in this case "Canadian corporations receiving dividends from a U.S. subsidiary will not see them taxed when they're from an active U.S. business, or if the U.S. corporate tax paid would eliminate any Canadian tax payable."

A subsidiary of HSBC has the note.  

I am fairly certain that you get a credit for the taxes paid in the US but not certain so check with your accountant (Note - make sure he knows this stuff as most accountants do NOT know US / Canada Tax interaction).If you create a C-Corp (as a Non-Resident Alien you can not create a S-Corp) in the US, it can have LLC's as subsidiaries.

Yum brands subsidiary- say half the stores across the U.S. backing the lease3.