Form 1120-Fsc - U.s. Income Tax Return Of A Foreign Sales Corporation Page 4

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4
Form 1120-FSC (Rev. 12-2010)
Page
Schedule E
Exemption Percentages Used in Figuring Exempt Foreign Trade Income (see instructions)
Note: If all shareholders of the FSC are C corporations, enter .30000 on line 2d and .65217 on line 3d and skip all other lines.
If all shareholders of the FSC are other than C corporations, enter .32000 on line 2d and .69565 on line 3d and skip all other lines.
Percentage (round to at least five decimal places) of voting stock owned by shareholders that are
1
1
C corporations .
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2
Exemption percentage for foreign trade income determined by not using the administrative pricing rules:
.02000
a Difference between section 923(a)(2) and section 291(a)(4)(A) percentage .
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2a
.32000
b Section 923(a)(2) percentage
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2b
c Multiply line 1 by line 2a .
2c
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d Exemption percentage. Subtract line 2c from line 2b. Enter here and on Schedule B, line 9b, and
on Schedule G, line 16b .
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2d
3
Exemption percentage for foreign trade income determined using administrative pricing rules:
a Difference between section 923(a)(3) fraction and section 291(a)(4)(B) fraction (16/23 – 15/23 =
.04348
1/23) shown as a decimal
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3a
.69565
b Section 923(a)(3) fraction (16/23) shown as a decimal
3b
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c Multiply line 1 by line 3a .
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3c
d Exemption percentage. Subtract line 3c from line 3b. Enter here and on Schedule B, line 9a, and
on Schedule G, line 16a .
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3d
Schedule F
Net Income From Nonexempt Foreign Trade Income and Taxable Nonforeign Trade Income
(see instructions)
Part I—Net Income From Nonexempt Foreign Trade Income
(a) Using administrative
(b) Not using administrative
pricing rules
pricing rules
1 Enter 50% of total receipts from the sale, exchange, or other disposition of
military property and related services
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1
2 International boycott income .
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2
3 Illegal bribes and other payments
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4 Total. Add lines 1, 2, and 3
4
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5 Cost
of
goods
sold
and
other
costs
related
to
above
income
(attach schedule) .
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5
6 Net income from nonexempt foreign trade income. Subtract line 5 from
line 4. Enter here and on Schedule B, line 14, columns (a) and (b) .
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6
Part II—Taxable Nonforeign Trade Income
7 Small FSCs: If line 6f, Schedule B, is greater than line 6e, Schedule B, enter the excess here .
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8 Interest .
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9 Dividends (attach schedule—see instructions)
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10 Carrying charges .
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11 Royalties
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12 Other investment income .
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13 Receipts excluded under section 924(f) on the basis of use, subsidized receipts, and receipts from
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related parties .
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14 Income from excluded property under sections 927(a)(2) and (3)
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14
15 Income from transactions that did not meet the Foreign economic process rules (see instructions).
(See Foreign Trading Gross Receipts in the instructions.) .
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16 Other income .
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16
17 Total. Add lines 7 through 16 .
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17
18 Enter deductions allocated or apportioned to line 17 income. (Attach schedule. Small FSCs also
include the cost of goods sold deduction attributable to the amount entered on line 7 above) .
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19 Taxable nonforeign trade income. Subtract line 18 from line 17. Enter here and on Schedule B,
line 17
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19
1120-FSC
Form
(Rev. 12-2010)

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