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Foreign Sales Corporation |
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Foreign Sales Corporation (FSC) A special type of corporation created by the Tax Reform Act of 1984 that is designed to provide a tax incentive for exporting U.S.-produced goods. Foreign Sales Corporation An export 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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Repeal of the foreign sales corporation and extraterritorial income exclusion binding contract transition rules, due to the risk of World Trade Organization sanctions (TIPRA Section 513); The first of these modify existing provisions relates to the foreign sales corporation and extraterritorial income regimes. The foreign sales corporation issue has already seen the EU impose sanctions against a host of U. |
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