Domestic International Sales Corporation


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Domestic International Sales Corporation (DISC)

A U.S. corporation that receives a tax incentive for export activities.

Foreign Sales Corporation

An exporting corporation in the United States. Exporters may register as foreign sales corporations in order to receive certain tax advantages. Foreign sales corporations must have an office in a country with an exchange of information agreement with the United States and have at least one member of the board of directors residing in that country. This structure was created by the Tax Reform Act of 1984, and was formerly called a Domestic International Sales Corporation.
References in periodicals archive ?
Is not a shareholder of a foreign sales corporation (FSC) or an interest-charge domestic international sales corporation (IC-DISC).
This export incentive was intended to replace the domestic international sales corporation (DISC) and satisfy the "substance" requirements of the General Agreement on Tariffs and Trade (GATT).
An automatic change is available to shareholders of a foreign sales corporation (FSC) or interest-charge domestic international sales corporation (IC-DISC) if the FSC or IC-DISC in which the corporation is a principal shareholder would be required to change its tax year under Temp.
936 election applies; and (4) a domestic international sales corporation (DISC) or former DISC.