Form 1120-FSC

(redirected from Forms 1120-FSC)

Form 1120-FSC

A tax return for the income of a foreign sales corporation. A foreign sales corporation files Form 1120-FSC to report its revenue, expenses, and profits or losses. It also uses Form 1120-FSC to claim deductions and credits, which is especially important in the United States because corporate tax rates historically have been high compared to other countries.
References in periodicals archive ?
3) As a result of the Foreign Sales Corporation Repeal and Extraterritorial Income Act of 2000, no Forms 1120-FSC are expected to be filed after 2003.