IC-DISC

(redirected from ICDISC)
Also found in: Acronyms.

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.
References in periodicals archive ?
After 1985, "other" excludes Form 1120-DISC for Domestic International Sales Corporations, which were discontinued and mostly replaced by FSC's (see above); and Form 1120 ICDISC for Interest-Charge Domestic International Sales Corporations (which was used by certain other DISC's after 1985).
An ICDISC can defer the tax on a portion of its income, but must ultimately pay the deferred tax plus interest.