Foreign Sales Corporation definition

Foreign Sales Corporation means a Wholly-Owned Foreign Subsidiary of Furniture Brands and/or its Restricted Subsidiaries created for the purpose of effecting sales of goods and/or services in foreign countries.
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Foreign Sales Corporation means a company which—
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Foreign Sales Corporation means a corporation as defined in Section 922, Internal Revenue Code.
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Examples of Foreign Sales Corporation in a sentence

  • The first provision was found to be a prohibited provision and was replaced by a second that was in turn found to be prohibited, then replaced by a third, also found illegal (the Domestic International Sales Corporation, or DISC, enacted in 1971; the Foreign Sales Corporation, or FSC, enacted in 1984; and the Extraterritorial Income regime, or ETI, enacted in 2000).

  • For treatment of dividends from a Foreign Sales Corporation (FSC's) see the regulation on FSC's.

  • Gentex International Corporation, a Foreign Sales Corporation incorporated in Barbados, is a wholly-owned subsidiary of Gentex Corporation.

  • CRS Report RL30684, The Foreign Sales Corporation (FSC) Tax Benefit for Exporting: WTO Issues and an Economic Analysis, by David L.

  • Since 1984, the U.S. tax code provided an export tax benefit known as the Foreign Sales Corporation (FSC) provisions, which enabled U.S. exporters to exempt between 15% and 30% of their export income from U.S. tax.

  • The student, while being exposed to the international trading system, will focus on Caribbean cases such as The Bananas Case, Foreign Sales Corporation case, OECD Harmful Taxation Competition Initiative and the role of the Caribbean Regional Negotiating Machinery.

  • Recent tax policy debate has tended to focus on the international economy, sparked in part by the European Union’s successful challenge of the U.S. Foreign Sales Corporation export tax benefit, and in part by the perceived new challenges posed by an increasingly integrated world economy.

  • For information on business tax incentives related to the formation of a Foreign Sales Corporation (FSC) in Guam, which may qualify for certain exemptions or rebates of income, real property, gross receipts and use taxes, please refer to Section 7.4 (Foreign Sales Corporations) below.

  • Jamaica has notified to the WTO four programmes as containing export subsidies (the Export Industry Encouragement Act (EIEA), Industrial Incentives (Factory Construction) Act, Foreign Sales Corporation Act, and Jamaica Export Free Zones Act).

  • In the present dispute, the United States asserts that it has "enacted legislation terminating the Foreign Sales Corporation and Extraterritorial Income ('FSC/ETI') tax benefits".448 We understand the United States to argue that, by enacting the TIPRA, the United States has withdrawn the FSC/ETI subsidies with respect to Boeing by ceasing to provide the financial contribution forming the basis of those subsidies.


More Definitions of Foreign Sales Corporation

Foreign Sales Corporation means a foreign sales corporation as defined in Section 922 of the Internal Revenue Code, 26 U.S.C. 922 in effect prior to its repeal by Pub.L. 106-519.
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Foreign Sales Corporation means Corning Incorporated Foreign Sales Corporation.
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Foreign Sales Corporation means a corporation as defined in Section 922, 1329 Internal Revenue Code. 1330 (16) "Income" includes losses. 1331 (17) "Internal Revenue Code" means Title 26 of the United States Code as effective 1332 during the year in which Utah taxable income is determined. 1333 (18) "Nonbusiness income" means income as defined in Section 59-7-302. 1334 (19) "Nonresident shareholder" means any shareholder of an S corporation who on the 1335 last day of the taxable year of the S corporation, is: 1336 (a) an individual not domiciled in Utah; or 1337 (b) a nonresident trust or nonresident estate, as defined in Section 59-10-103. 1338 (20) "Related expenses" means: 1339 (a) expenses directly attributable to nonbusiness income; and 1340 (b) the portion of interest or other expense indirectly attributable to both nonbusiness 1341 and business income which bears the same ratio to the aggregate amount of such interest or 1342 other expense, determined without regard to this Subsection (20), as the average amount of the 1343 asset producing the nonbusiness income bears to the average amount of all assets of the 1344 taxpayer within the taxable year. 1345 (21) "Resident shareholder" means any shareholder of an S corporation who is not a 1346 nonresident shareholder. 1347 (22) "S corporation" means a small business corporation as defined in Section 1361, 1348 Internal Revenue Code. 1349 (23) "Safe harbor lease" means a lease that qualified as a safe harbor lease under 1350 Section 168, Internal Revenue Code. 1351 (24) "State of the United States" includes any of the 50 states or the District of 1352 Columbia and "United States" includes the 50 states and the District of Columbia. 1353 (25) (a) "Taxable year" means the calendar year or the fiscal year ending during such 1354 calendar year upon the basis of which the adjusted income is computed. 1355 (b) In the case of a return made for a fractional part of a year under this chapter or 1356 under rules prescribed by the commission, "taxable year" includes the period for which such 1357 return is made. 1358 (26) "Taxpayer" means any corporation subject to the tax imposed by this chapter.
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Foreign Sales Corporation means a "foreign sales corporation" as defined in Section 922 of the Code. FSFP - see Preamble.
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Foreign Sales Corporation means Power Trends Foreign Sales Corporation, a corporation organized under the laws of Barbados.
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Related to Foreign Sales Corporation

  • Gas Corporation means the body corporate established by section 4 of the Gas Corporation Act 1994;

  • Foreign Holding Company means any Subsidiary all or substantially all of the assets of which are comprised of Equity Interests in one or more Foreign Subsidiaries or CFC Debt.

  • Domestic Corporation means an entity that is treated as a corporation for United States federal income tax purposes and is a U.S. Tax Person.

  • Eligible Corporation means any domestic C corporation (as defined in section 1361(a)(2) of the Code) other than a corporation which is exempt from, or is not subject to, tax under section 11 of the Code, an entity described in section 851(a) or 856(a) of the Code, a REMIC; or an organization to which part I, subchapter T, chapter 1, subtitle A of the Code applies. The Term "Related Person" means any person that bears a relationship to the Transferee enumerated in section 267(b) or 707(b)(1) of the Code, using "20 percent" instead of "50 percent" where it appears under the provisions; or is under common control (within the meaning of section 52(a) and (b) of the Code) with the Transferee.

  • Foreign nonprofit corporation means an entity:

  • CFC Holding Company means each Domestic Subsidiary that is treated as a partnership or a disregarded entity for United States federal income tax purposes and that has no material assets other than assets that consist (directly or indirectly through disregarded entities or partnerships) of Equity Interests or indebtedness (as determined for United States tax purposes) in one or more CFCs.

  • Asset Management Plan means a plan created by the department and approved by the state transportation commission or a plan created by a local road agency and approved by the local road agency's governing body that includes provisions for asset inventory, performance goals, risk of failure analysis, anticipated revenues and expenses, performance outcomes, and coordination with other infrastructure owners.

  • QUALIFIED MUNICIPAL CORPORATION means a municipal corporation that, by resolution or ordinance adopted on or before December 31, 2011, adopted Ohio adjusted gross income, as defined by section 5747.01 of the Ohio Revised Code, as the income subject to tax for the purposes of imposing a municipal income tax.

  • Sales finance company means that term as defined in section 2 of the motor vehicle sales finance act, MCL 492.102.

  • agricultural holding means a portion of land not less than 0.8 hectares in extent used solely or mainly for the purpose of agriculture, horticulture or for breeding or keeping domesticated animals, poultry or bees;

  • Pure electric vehicle (PEV) means a vehicle equipped with a powertrain containing exclusively electric machines as propulsion energy converters and exclusively rechargeable electric energy storage systems as propulsion energy storage systems.

  • Subchapter S Corporation (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of stock of Borrower, or (d) purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Automotive hard paste wax means an automotive wax or polish that is:

  • Domestic Foreign Holding Company means any Domestic Subsidiary of the Borrower that owns no material assets (held directly or indirectly through one or more disregarded entities) other than capital stock (or capital stock and/or debt) of one or more Foreign Subsidiaries that are CFCs and/or Domestic Foreign Holding Companies.

  • Owners Corporation means the Owners’ corporation of the Lot and the Development incorporated and registered under the Building Management Ordinance (Cap.344);

  • Asset Management Company means an asset Management Company as defined in the Rules and Regulations.

  • Municipal corporation means, in general terms, a status conferred upon a local government unit, by state law giving the unit certain autonomous operating authority such as the power of taxation, power of eminent domain, police power and regulatory power, and includes a joint economic development district or joint economic development zone that levies an income tax under section 715.691, 715.70, 715.71, or 715.74 of the Ohio Revised Code.

  • New England Control Area or “NECA” is the Control Area for New England as defined in the ISO-NE Tariff.

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) replaced by The Companies Act, 2013 (No. 18 of 2013) and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund;

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Michigan economic development corporation means the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124.501 to 124.512, by a contractual interlocal agreement effective April 5, 1999, as amended, between local participating economic development corporations formed under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, and the Michigan strategic fund. If the Michigan economic development corporation is unable for any reason to perform its duties under this act, those duties may be exercised by the Michigan strategic fund.

  • UCITS management company means a management company as defined in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)1;

  • financial holding company means a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013;

  • Corporation/ Corpn./ Department means the Central Warehousing Corporation.

  • Plug-in Hybrid Electric Vehicle (PHEV) means a vehicle that is similar to a Hybrid but is equipped with a larger, more advanced battery that allows the vehicle to be plugged in and recharged in addition to refueling with gasoline. This larger battery allows the car to be driven on a combination of electric and gasoline fuels.

  • School Corporation means the Western Xxxxx County Community School Corporation of the County of Xxxxx of the State of Indiana;