abstract:Foreign Sales Corporations (FSCs) was a means formerly provided by United States taxation law for US companies to receive a reduction in US federal income taxes for profits derived from exports, through the use of an offshore subsidiary (a "Foreign Sales Corporation").
Wehave alsoactivelyrepresentedcorporateclients in connection with the WTOdispute concerning the ForeignSalesCorporationprovisions of theU. S. Tax code.
The World Trade Organization has ruled that our tax export subsidies--known as ForeignSalesCorporation and Extraterritorial Income Exclusion provisions--are illegal.