A(n)_____________ is a sales corporation set up in a foreign country or U.S.possession that can obtain a corporate tax exemption on a portion of the earnings generated by the sale or lease of export property.

Question

Quizplus · Accepted Answer

The foreign sales corporation (FSC) is a U.S. tax-exempt entity formed to encourage exporting of US products. The FSC provides tax incentives for US exporters by allowing a portion of the earnings generated by the sale or lease of export property to be tax-exempt.

A(n)_____________ Is a Sales Corporation Set Up in a Foreign