Form 1120-FSC(redirected from Forms 1120FSC)
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved