On Foreign Soil
Congress is proceeding with a plan to allow U.S. exporters to establish foreign sales corporation in other countries.
Congress is moving ahead with legislation to amend a tax law that allows U.S. exporters to establish foreign sales corporations (FSCs) abroad. With FSCs, companies can lower their income tax rate on the profits made from selling products in other countries. (For more details, see February 2000's "Tax Talk.")
The legislative push is in response to a recent ruling from the World Trade Organization (WTO) indicating that the 1982 law allowing FSCs provides unfair subsidies to U.S. companies. The European Union brought the complaint to the WTO.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
These Co-Founders Are Using 'Quiet Confidence' to Flip the Script on Cutthroat Startup Culture and Make Their Mark on a $46 Billion Industry
-
My 7-Year-Old Daughter Started Selling Eggs. Here's What She Taught Me About Running a Startup.
-
Why You Need to Become an Inclusive Leader (and How to Do It)
-
Career Transitions You Can Make in Your 40s and 50s
-
Billionaire Naveen Jain Is an Expert at Disrupting Fields He Has No Experience In. His Secret Sauce for Building Multi-Million Dollar Companies? 'You Have to Come as Naive.'
-
4 Principles to Develop Next-Level Leadership at Your Company
-
This Filipino American Founder Is Disrupting the Beverage Aisle by Introducing New Flavors to the Crowded Bubbly Water Market
