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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
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.
936 election applies or (4) a domestic international sales corporation (DISC) or former DISC.
companies engaged in exporting can become interest charge domestic international sales corporations (IC-DISCs) if they meet the gross receipts test and qualified export assets test, among other requirements.
Following enactment of a federal tax law granting preferential treatment to export sales by "Domestic International Sales Corporations" (DISCs), New York amended its tax statute to include income from DISC sales in the income of the parent corporation for New York corporate tax purposes.

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