Form 1120-Ic-Disc - Interest Charge Domestic International Sales Corporation Return Page 6
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Form 1120-IC-DISC (Rev. 9-2017)
Page
Schedule N
Export Gross Receipts of the IC-DISC and Related U.S. Persons (see instructions)
1
See the instructions and enter the product code and percentage of total export gross receipts for (a) the largest and (b) 2nd largest
product or service sold or provided by the IC-DISC:
(a) Code
Percentage of total
%
(b) Code
Percentage of total
%
2
Export gross receipts for the current tax year
Export gross receipts of related U.S. persons
(a) Export gross receipts of the IC-DISC
(b) Related IC-DISCs
(c) All other related U.S. persons
3
If item 2(b) or 2(c) is completed, complete the following (if more space is needed, attach a statement following the format below):
(a) IC-DISCs in Your Controlled Group
Name
Address
Identifying number
(b) All Other Related U.S. Persons in Your Controlled Group
Name
Address
Identifying number
Schedule O
Other Information (see instructions)
Yes No
1
See the instructions and enter the main:
a
Business activity
b Product or service
▶
▶
2 a
Did 95% (0.95) or more of the IC-DISC’s gross receipts for the tax year consist of qualified export receipts (defined in
section 993(a))? .
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b
Did the adjusted basis of the IC-DISC’s qualified export assets (as defined in section 993(b)) at the end of the tax year
equal or exceed 95% (0.95) of the sum of the adjusted basis of all the IC-DISC’s assets at the end of the tax year? .
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c
If a or b is “No,” did the IC-DISC make a pro rata distribution of property as defined in section 992(c)? .
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3
Did the IC-DISC have more than one class of stock at any time during the tax year? .
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4
Was the par or stated value of the IC-DISC’s stock at least $2,500 on each day of the tax year (for a new corporation, this
means on the last day for making an election to be an IC-DISC and for each later day)?
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5
Did the IC-DISC keep separate books and records? .
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6 a
Does the IC-DISC or any member of the IC-DISC’s controlled group (as defined in section 993(a)(3)) have operations in or
related to any country (or with the government, a company, or a national of that country) associated with carrying out the
boycott of Israel that is on the list kept by the Secretary of the Treasury under section 999(a)(3)? .
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b
Did the IC-DISC or any member of the controlled group of which the IC-DISC is a member have operations in
any unlisted country that the IC-DISC knows or has reason to know requires participation in or cooperation with
an international boycott against Israel? .
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c
Did the IC-DISC or any member of the controlled group of which the IC-DISC is a member have operations in
any country that the IC-DISC knows or has reason to know requires participation in or cooperation with an international
boycott other than the boycott of Israel?
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If the answer to any of the questions in 6 is “Yes,” see instructions and Form 5713, International Boycott Report.
7
$
Enter the amount of tax-exempt interest income received or accrued during the tax year
▶
8
At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of
(a) the total voting power of all classes of stock of the corporation entitled to vote, or
(b) the total value of all the classes of stock of the corporation? .
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If “Yes,” enter:
a Percentage owned
and
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b Owner's country
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c The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a
Foreign Corporation Engaged in a U.S. Trade or Business. Enter number of Forms 5472 attached
▶
Note: If the IC-DISC, at any time during the tax year, had assets or operated a business in a foreign country or U.S. possession, it may
be required to attach Schedule N (Form 1120), Foreign Operations of U.S. Corporations, to this return. See Schedule N for details.
1120-IC-DISC
Form
(Rev. 9-2017)
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