IC-DISC

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IC-DISC

Interest Charge Domestic International Sales Corporation. An S-corporation, closely-held C-corporation or limited liability company in the United States that exports to non-U.S.-based clients. IC-DISCs are eligible for favorable tax treatment.
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The use of IC-DISCs as a tax-savings tool also increased when Congress passed legislation in 2000 to end the use of foreign sales corporations (PL.
S corps, partitersliips and disregarded entities are oficn used as shareholders of 1C-1)ISCs to allow for flowthrough income tax treatment of dividend distributions by IC-DISCs.
shareholders of controlled foreign corporations (CFCs) and shareholders of Interest-Charge Domestic International Sales Corporations (IC-DISCs).
IC-DISCs do not need the typical corporate "substance" requirements--most IC-DISCs are "paper" entities and are not required to perform substantial economic functions nor have employees and office space.
A similar study, interest-charge domestic international sales corporations (IC-DISCs), is prepared approximately every four years.
The number of IC-DISCs has seen a resurgence for a couple of key reasons.
Interest-Charge Domestic International Sales Corporations (IC-DISCs) are domestic corporations formed for the purpose of providing limited incentives to small exporters of U.S.
On March 12, the IRS released its advanced audit guide (LB&I-04-0212-003, available at tinyurl.com/d2mvxm7) for agents involved in examinations of interest charge domestic international sales corporations (IC-DISCs).
shareholders of controlled foreign corporations (CFCs) and to shareholders of Interest Charge Domestic International Sales Corporations (IC-DISCs).
The winter 2010 IRS Statistics of Income showed an increase in the number of IC-DISCs from 2004 (425) to 2006 (1,209), and their gross export revenue increased 266% from $5.27 billion to $19.29 billion in that time.
In 1984, Congress created Interest Charge Domestic International Sales Corporations (IC-DISCs).
IRS statistics (34) show an increase in the number of IC-DISCs from 2004 (425 taxpayers) to 2006 (1,209 taxpayers), and gross revenue increased from $5.3 billion to $19.3 billion in that time.