In order to qualify as a foreign sales corporation under U.S.tax law,the company must have management outside of the United States in one of the less developed countries approved by the Department of Treasury.

Question

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To qualify as a foreign sales corporation under U.S. tax law, the company must have a significant portion of its qualified export receipts derived from foreign trading activities and meet various other requirements, but having management outside the United States in an approved less developed country is not a requirement.

In Order to Qualify as a Foreign Sales Corporation Under