2008 Ic Disc Stats

Interest-Charge Domestic International Sales Corporations, Tax Year 2008
by Daniel Holik
nterest-Charge Domestic International Sales Corporations (IC-DISCs) are domestic corporations formed for the purpose of providing limited incentives to small exporters of U.S. products and certain services. There were 1,917 active IC-DISC returns filed for Tax Year 2008, an increase from the 1,209 filed for 2006, the most recent year for which data are available.1 The increase in the number of IC-DISC returns filed reflected an expansion of IC-DISC economic activity. IC-DISC export gross receipts, one measure of overall IC-DISC export activity, increased by 89 percent from $19,286 million for Tax Year 2006 to $36,528 million for Tax Year 2008 (Figure A).2 Net income (less deficit) rose from $1,731 million for Tax Year 2006 to $3,168 million for Tax Year 2008. Finally, actual distributions to IC-DISC shareholders increased 67 percent, from $1,805 million for Tax Year 2006 to $3,013 million for Tax Year 2008.
Background and Current Law
The IC-DISC entity was created by the Deficit Reduction Act of 1984 as a replacement for the Domestic International Sales Corporation (DISC).3 To become an IC-DISC, a corporation must be organized under the laws of a State or the District of Columbia. Parent shareholdersgenerally, other corporations, individuals, partnerships, trusts, or estatesform the IC-DISC entity by filing Form 4876-A, Election To Be Treated as an Interest-Charge DISC. This election is considered to be in effect as long as the IC-DISC meets the following requirements: (1) at least 95 percent of the IC-DISCs total receipts are qualified export receipts and (2) at least 95 percent of the adjusted basis of the IC-DISCs
Daniel S. Holik is an economist with the Special Studies Returns Analysis Section. This article was written under the direction of Chris Carson, Chief.
total assets are qualified assets.4 Qualified export receipts arise from the sale or exchange of qualified export property by an IC-DISC. In general, export property is property made, grown, or extracted in the United States, by an entity other than an IC-DISC, for direct use or disposition outside the United States. In addition, qualified export receipts can be divided into two categories: receipts from the sale of export property and other qualified export receipts, which include payment for certain services provided by the IC-DISC, as well as certain types of passive income (e.g., qualified dividends, interest, and capital gains). An IC-DISC is required to have only one class of stock, conform its tax year to that of the principal shareholder, and maintain separate books and records. For Tax Year 2008, 86.1 percent of IC-DISCs were majority-owned by individuals, partnerships, trusts, estates, or S corporations; 11.7 percent were majorityowned by other corporations; and the remaining 2.2 percent reported no majority owner (Figure B). By design, an IC-DISC provides a tax-deferral benefit to shareholders. No U.S. tax is imposed on certain types of IC-DISC income, i.e., payment of income tax is deferred, until the income is either actually distributed or deemed distributed to shareholders. The IC-DISC entity is not taxed. IC-DISC taxable income that does not qualify for tax-deferral is deemed distributed to shareholders as a taxable dividend in the tax year in which it is earned, regardless of whether the income is actually distributed to shareholders or retained by the IC-DISC. In addition, a producers loan may be made from the IC-DISCs accumulated tax-deferred income to its parent shareholders, in order to provide additional capital to the shareholders.5 An IC-DISC is required to: (1) calculate the tax-deferred portion of its taxable income each year; (2) accumulate tax-deferred income for the current tax year and prior tax years in a separate account; and (3)
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1 For additional information about IC-DISCs for Tax Years 1996, 2000, 2004, 2005, and 2006 see Belmonte, Cynthia, Interest-Charge Domestic International Sales Corporations, 1996, Statistics of Income Bulletin, Fall 2000, Volume 20, Number 2; Belmonte, Cynthia, Interest-Charge Domestic International Sales Corporations, 2000, Statistics of Income Bulletin, Spring 2004, Volume 23, Number 4; and Holik, Daniel, Interest-Charge Domestic International Sales Corporations, Tax Years 2004, 2005, and 2006, Statistics of Income Bulletin, Winter 2010, Volume 29, Number 3. An active IC-DISC return is a return that has item(s) of income, deductions, and/or distributions. 2 All statistics in this article are in current dollars. 3 The creation of the IC-DISC entity was a culmination of the extensive discussions, both within the United States and between the United States and its trading partners, over the nature, form, and scope of export preferences incorporated within the Internal Revenue Code. 4 An IC-DISC that does not meet the gross receipts test during the tax year will still be considered to have qualified if, at the end of the tax year, the IC-DISC distributes the portion of its taxable income attributable to gross receipts that are not qualified export gross receipts. Similarly, an IC-DISC that does not meet the qualified export asset test during the tax year will still be considered to have qualified if, at the end of the tax year, it makes a distribution equal to the fair market value amount of the nonqualified assets. 5 See the Explanation of Selected Terms section for additional information about producers loans.
Interest-Charge Domestic International Sales Corporations, 2008

Statistics of Income Bulletin | Summer 2011
Figure A
Active Interest-Charge Domestic International Sales Corporation Returns: Selected Items for Tax Years 1996, 2000, 2004, 2005, 2006, and 2008
[Money amounts are in thousands of dollars]
Tax year Item 1996 (1) Number of returns Total assets [1] Qualified assets Export property Total liabilities [2] Total qualified export receipts and nonqualified receipts [1] Qualified export receipts from the sale of export property Other qualified export receipts Cost of sales and operations Total export promotion and other expenses [1] Export promotion expenses Net income (less deficit) Net income Deficit Taxable income Selected independent computations of taxable income: Portion attributable to excess qualified export receipts Adjusted IC-DISC income subject to deferral computation Current-year tax-deferred income Total amount deemed distributed Tax-deferred IC-DISC income reported to shareholders Actual distributions to shareholders Total current-year export gross receipts of IC-DISCs and related U.S. persons IC-DISCs Related U.S. persons
[1] Includes items not shown separately. [2] Excludes shareholder's equity accounts. NOTES: Detail may not add to totals because of rounding. Tax Year 1996 IC-DISC statistics are presented in the Statistics of Income Bulletin, Fall 2000, Volume 20, Number 2. Tax Year 2000 IC-DISC statistics are presented in the Statistics of Income Bulletin, Spring 2004, Volume 23, Number 4. Tax Year 2004, 2005, and 2006 IC-DISC statistics are presented in the Statistics of Income Bulletin, Winter 2010, Volume 29, Number 3.
2000 (2) 727 1,128,995 1,122,250 83,875 216,366 1,438,686 1,398,077 36,253 919,485 184,203 127,964 335,000 342,923 -7,923 341,731 163,495 159,248 159,846 191,121 740,662 395,070 4,735,553 4,670,909 64,644
2004 (3) 425 727,347 724,045 57,704 154,464 1,114,493 1,094,427 18,524 544,334 121,919 90,913 448,240 450,937 -2,697 450,414 317,390 126,609 129,327 321,099 431,773 432,680 5,331,987 5,272,251 59,737
2005 (4) 876 1,136,976 1,129,985 80,821 191,243 2,058,745 2,016,915 39,103 756,623 187,973 134,936 1,114,149 1,118,408 -4,259 1,112,387 691,940 436,282 461,280 656,908 592,973 898,967 12,872,156 11,950,127 922,030
2006 (5) 1,209 1,036,683 1,032,996 72,743 214,391 2,999,386 2,853,957 87,821 1,056,842 211,804 171,736 1,730,741 1,750,649 -19,908 1,729,897 977,202 762,880 815,224 935,497 519,557 1,804,673 20,015,962 19,285,999 729,964
2008 (6) 1,917 1,322,115 1,311,482 88,875 257,257 4,779,779 4,552,005 181,654 1,319,613 292,661 189,675 3,167,505 3,172,848 -5,343 3,165,263 1,932,075 1,240,909 1,362,795 1,810,352 536,629 3,013,084 38,209,118 36,527,683 1,681,435
773 909,628 896,013 77,352 209,757 1,506,692 1,476,164 22,784 1,020,147 167,830 115,650 318,716 322,004 -3,288 320,841 146,400 163,366 164,665 165,679 536,636 321,903 4,578,970 4,556,409 22,562
report the total accumulated amount of tax-deferred income to its shareholders each year. (In Figure A, the sum of these accounts is the difference between Total assets and Total liabilities; they comprise the total shareholders equity of IC-DISCs). IC-DISC shareholders must pay an interest charge on their share of IC-DISC-related deferred tax liability. This interest charge is determined using a compounded annual rate of interest equivalent to the average investment yield of U.S. Treasury bills with 52-week maturities.6 Types of income not eligible for tax deferral include: taxable income derived from excess qualified export receipts; certain gains from the sale or
exchange of assets; one-half of IC-DISC taxable income attributable to the sale or exchange of military property; international boycott income; illegal bribes and kickbacks; and foreign investment attributable to producers loans. Excess qualified export receipts are certain export gross receipts in excess of $10 million, a limitation intended to restrict IC-DISC activity to smaller businesses. For example, if the total of certain export gross receipts is greater than $10 million for the tax year, taxable income derived from export gross receipts above this amount (e.g., excess qualified export receipts) is not eligible for deferral and is deemed distributed to shareholders.
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6 The interest charge is computed by IC-DISC shareholders on Form 8404, Computation of Interest Charge on DISC-Related Deferred Tax Liability. For example, for Tax Year 2008, the interest-charge to an IC-DISC shareholder filing a full calendar-year return was calculated using an interest charge of approximately 2.5 percent. (See Form 8404 for Tax Year 2008, page 2, instructions for Line 8.)

Figure B
Active Interest-Charge Domestic International Sales Corporations, by Type of Majority Shareholder, Tax Year 2008
No majority shareholder (2.2%)
Corporations (except S Corporations) (11.7%)
43 2 24
50 1,6
Individuals, partnerships, trusts, estates, or S Corporations (86.1%)
1,917 total IC-DISC returns
IC-DISC Receipts, Taxable Income, Excess Qualified Export Receipts, Deemed Distributions, and Actual Distributions to Shareholders for Tax Year 2008
IC-DISCs reported $4,780 million of gross income for Tax Year 2008. Of this amount, $4,552 million (95 percent) was attributable to qualified export receipts. Most transactions generating qualified export receipts for Tax Year 2008 involved direct foreign sales to unrelated purchasers. The balance ($182 million) of qualified export receipts was from other qualified export receipts. Interest on producers loans accounted for $11 million of this amount. After subtracting the cost of sales and operations ($1,320 million), total export promotion and other expenses ($293 million), the net operating loss deduction ($2 million), and the dividends received deduction ($0.1 million), IC-DISCs reported $3,165 million of taxable income. For Tax Year 2008, $1,932 million of taxable income was attributable to excess qualified export receipts and $1,811 million
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was deemed distributed. (Deemed distributions were also subject to certain limitations that are beyond the scope of this article.)7 After the subtraction of deemed and actual distributions (if any) to IC-DISC shareholders, the income remaining is considered to be tax deferred and is reported to shareholders on Schedule K, Shareholders Statement of IC-DISC Distributions. Actual distributions to shareholders were $3,031 million for Tax Year 2008, while tax-deferred IC-DISC income reported to shareholders was $537 million (Figure A).
Table 1 presents selected Tax Year 2008 IC-DISC statistics, classified by size of IC-DISC export gross receipts.8 IC-DISC export gross receipts are a useful classifier for these statistics, because such receipts are the most complete measure of the total value of goods and services exported through use of the IC-DISC mechanism. Total assets, which traditionally are used as one classifier for corporation
Data by Size of IC-DISC Export Gross Receipts for Tax Year 2008
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Amounts deemed distributed shown in Figure A and Tables 1 through 3 include amounts deemed distributed under Internal Revenue Code sections 995(b)(1) (from current-year taxable income) and 995(b)(2) (generally from prior-year taxable income). In general, these deemed distributions included income amounts not eligible for tax deferral and distributions from IC-DISCs that had not qualified or revoked their election. 8 The statistics presented in Table 1 are classified by amounts shown in column (12) divided by the number of returns shown in column (1).

returns by the Statistics of Income (SOI) Division of IRS, are not as good a measure of economic activity by IC-DISC returns, because the IC-DISC entity does not produce goods or services; the IC-DISC is solely an export mechanism for its shareholders. Hence, most IC-DISCs do not carry substantial inventories as assets on their balance sheets or report substantial assets associated with production of goods and services. Table 1 shows that Tax Year 2008 IC-DISCs reported a wide range of export gross receipts. Certain returns showed zero export gross receiptsthese returns were considered active returns because these IC-DISCs reported at least one item of deduction(s) or distribution(s). Other returns reported export gross receipts of more than $100 million, even though the IC-DISC tax deferral mechanism is limited by law to the first $10 million of export gross receipts. For Tax Year 2008, the largest number of IC-DISC returns reporting export gross receipts fell into the $0 through $1 million export gross receipts classification, while for Tax Year 2006, the largest number of IC-DISC returns was grouped into the $1 million through $3 million export gross receipts classification. As expected, returns reporting export gross receipts more than $100 million dominated the statistics shown in Table 1 for Tax Year 2008. Currentyear tax-deferred income reported to shareholders is the only consistent item where IC-DISC returns not classified in this grouping did not dominate the Tax Year 2008 statistics. Current-year tax-deferred IC-DISC income reported to shareholders does capture previous tax year income(s) for a given IC-DISC, hence it is not necessarily dependent on current-year export gross receipts.9
Distribution of IC-DISCs by Selected Major Product or Service Group for Tax Year 2008
Table 3 presents detailed Tax Year 2008 statistics, such as IC-DISC assets, receipts (including total export gross receipts of IC-DISCs and related U.S. persons), deductions, income, distributions, and total qualified export receipts, and nonqualified receipts, classified by selected major and minor product or service group. The selected minor product or service groupings in Table 3 show which specific minor
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products and services groupings comprise each major product or service group. For Tax Year 2008, almost 88 percent of all active IC-DISC returns reported the export of manufactured products as their major product or service, a proportion which was comparable to the figures for Tax Years 2005 and 2006. The two most frequently reported major product groups were machinery (other than electrical and electronics) and electrical and electronic machinery, equipment, and supplies, which together comprised slightly more than 27 percent of all active IC-DISC returns for Tax Year 2008. Combined, these two major product groups were responsible for 20 percent of total qualified export receipts and nonqualified receipts, 20 percent of taxable income, and 14 percent of taxable income attributable to excess qualified export receipts. Other predominant major product groups included fabricated metal products, except ordnance, machinery, and transportation equipment; chemicals and allied products; primary and secondary nonfabricated metal products; and transportation equipment. Although only 8 percent of all active IC-DISCs for Tax Year 2008 reported chemicals and allied products as their major export, these IC-DISCs were responsible for 15 percent of current-year total export gross receipts of IC-DISCs, 19 percent of taxable income, and 26 percent of taxable income attributable to excess qualified export receipts. Further, more than 26 percent of total deemed distributions and 19 percent of actual distributions were accounted for by IC-DISCs in the chemicals and allied products industry. For Tax Year 2008, 12 percent of active IC-DISCs (231 returns) reported the export of nonmanufactured products and services. Returns with computer software as their major export reported 5 percent of total qualified and nonqualified export receipts ($255 million); 8 percent of taxable income ($250 million); 12 percent of taxable income attributable to excess qualified export receipts ($227 million); 13 percent of total amounts deemed distributed ($226 million); and 8 percent of actual distributions to shareholders ($242 million). Figure C presents distributions of active IC-DISCs by selected major product or service group for the past 6 IC-DISC studies, spanning 12 tax years
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The computation of current-year tax-deferred income reported to shareholders is complex and generally depends upon the IC-DISCs current-year taxable income, previous tax years accumulated IC-DISC income, and current-year actual distributions to shareholders. A more complete description of the computations is beyond the scope of this article.

Figure C
Active Interest-Charge Domestic International Sales Corporation Returns, by Selected Major Product or Service Group, Tax Years 1996, 2000, 2004, 2005, 2006, and 2008
Tax year Selected major product or service group 1996 (1) All products and services [1] Manufactured products and services Food and kindred products Textile mill products Apparel and other finished goods Lumber and wood products, except furniture Furniture and fixtures Paper and allied products Printed media Chemicals and allied products Rubber and plastics products Stone, clay, glass, and concrete products Primary and secondary nonfabricated metal products Fabricated metal products (other than ordnance, machinery, and transportation equipment) Machinery (other than electrical and electronics) Electrical machinery, equipment, and supplies Transportation equipment Professional, scientific, and controlling instruments Miscellaneous and other manufactured products Nonmanufactured products and services 773 695 28 14 10 30 7 19 6 48 13 6 20 65 123 125 63 44 64 71 2000 (2) 727 664 18 22 10 58 12 16 5 53 5 7 16 61 116 103 47 43 64 52 2004 (3) 425 394 22 9 4 17 7 12 6 37 6 3 15 31 79 47 31 43 25 31 2005 (4) 876 787 46 11 9 43 11 20 15 63 20 9 32 74 155 98 68 57 56 89 2006 (5) 1,209 1,080 69 13 9 52 13 21 18 90 27 10 52 99 210 132 89 94 75 129 2008 (6) 1,917 1,686 115 16 13 62 17 49 22 154 41 12 130 186 333 190 130 122 94 231
NOTE: Detail does not add to totals because selected major product or service groups are shown. [1] Includes 7 returns for 1996 and 11 returns for 2000 in which the major product or service was not allocable.
between 1996 and 2008. Approximately 90 percent of IC-DISC returns reported the export of manufactured products as their major product or service for tax years prior to 2008, a proportion similar to that in Tax Year 2008. In addition, the two most frequently reported major product groups over the period were machinery (other than electrical and electronics) and electrical and electronic machinery, equipment, and supplies; these are the same two most frequently reported major product groups for 2008.
Explanation of Selected Terms
Summary
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There were 1,917 active IC-DISC returns filed for Tax Year 2008. IC-DISC export gross receipts, one measure of overall IC-DISC export activity, increased by 89 percent from $19,286 million for Tax Year 2006 to $36,528 million for Tax Year 2008. Net income (less deficit) rose from $1,731 million for Tax Year 2006 to $3,168 million for Tax Year 2008. Finally, actual distributions to IC-DISC shareholders increased 67 percent, from $1,805 million for Tax Year 2006 to $3,013 million for Tax Year 2008.
Actual distributions to shareholdersDistributions from IC-DISC earnings and profits actually paid to shareholders of the IC-DISC. Adjusted IC-DISC income subject to deferral computationIC-DISC taxable income after subtracting certain amounts not eligible for tax deferral (e.g., amounts deemed distributed). For Tax Year 2008, adjusted IC-DISC income subject to the tax-deferral computation equaled IC-DISC taxable income minus the sum of: (1) gross interest from producers loans;(2) certain gains from the sale or exchange of assets; (3) one-half of IC-DISC taxable income attributable to military property; and (4) IC-DISC taxable income attributable to export gross receipts in excess of $10 million. Amounts deemed distributedThe portion of the IC-DISCs earnings and profits that was not eligible for tax-deferral and, hence, was characterized as a fully taxable dividend to IC-DISC shareholder(s). For Tax Year 2008, amounts deemed distributed equaled the sum of: (1) gross interest from producers loans;

(2) certain gains from the sale or exchange of assets; (3) one-half of IC-DISC taxable income attributable to military property; (4) IC-DISC taxable income attributable to export gross receipts in excess of $10 million; (5) international boycott income; (6) illegal bribes and kickbacks; and (7) the amount of foreign investment attributable to producers loans. In addition, for all shareholders that were C corporations, one-seventeenth of adjusted IC-DISC income subject to deferral was to be reported as a deemed distribution.10 Current-year tax-deferred incomeIC-DISC taxable income after all current year taxable income amounts deemed distributed under Internal Revenue Code section 995(b)(1) were subtracted. Export gross receiptsExport gross receipts of the IC-DISC represented qualified export receipts from: (1) the sale, lease, or rental of export property; (2) services related and subsidiary to any qualified sale, lease, or rental of export property; (3) engineering or architectural services for construction projects located outside of the United States; and (4) export management services provided to other unrelated IC-DISCs to aid in promoting qualified export receipts. For IC-DISCs that acted as commission agents, export gross receipts included total receipts on which the commission was earned, as well as the commission. Export gross receipts did not include passive income (dividends, interest, or capital or ordinary gains on sale of business property) received by IC-DISCs. Export promotion expensesExpenses (excluding income taxes) incurred by an IC-DISC to advance the sale, lease, or other distribution of export property for use, consumption, or distribution outside the United States. Export propertyExport property was inventory and property held for sale or lease which: (1) had been made, manufactured, produced, grown, or extracted in the United States by a person other than an IC-DISC; (2) was held primarily for sale or lease in the ordinary course of business for direct use, consumption, or disposition outside the United States; and (3) had, at the time of sale or lease by the IC-DISC, not more than 50 percent of its fair market value attributable to imported articles. IC-DISC gross incomeThe sum of qualified and nonqualified receipts. IC-DISC taxable incomeIC-DISC net income minus statutory special deductions (i.e., the net
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operating loss deduction and the dividends-received deduction). IC-DISC taxable income was computed to determine: (1) the IC-DISCs earnings and profits considered deemed distributed to IC-DISC shareholders for the current tax year; and (2) the interest charge on tax that would have been imposed on IC-DISC income had it not been subject to deferral. Producers loansThis qualified asset generally consisted of loans made from the IC-DISCs accumulated tax-deferred income to its parent company or any other U.S. person engaged in manufacturing, producing, growing, or extracting export property. A producers loan must have been designated as such, have been evidenced by a note, have had a stated maturity not to exceed 5 years, and have been attributed to assets used in export production. If a producers loan was renewed, it had to be requalified at the time of renewal. A producers loan did not have to be traced to a specific investment by the domestic borrower, but was subject to certain limitations to assure it did not exceed the investment in assets that could have been attributable to production for export. Qualified assetsQualified export assets included: (1) export property; (2) assets used in performing engineering or architectural services; (3) accounts receivable attributable to export transactions; (4) working capital; (5) producers loan obligations; (6) certain stocks or securities held by the IC-DISC; (7) certain obligations issued or insured by the U.S. Export-Import Bank or the Foreign Credit Insurance Association; and (8) certain other deposits. Qualified export receiptsSee export gross receipts. Related U.S. personsIC-DISC related U.S. persons were: (1) individuals who were citizens or residents of the United States and controlled the IC-DISC; (2) domestic partnerships, estates, or trusts that controlled the IC-DISC; (3) domestic corporations that controlled the IC-DISC; and (4) domestic corporations that were controlled by the same person(s) that controlled the IC-DISC. Control meant direct or indirect ownership of more than 50 percent of the voting power of the stock entitled to vote in an IC-DISC or other domestic corporation. Under the stock attribution rules of the Internal Revenue Code section 267(c), stock held by related family members is considered to be held as if the family is one shareholder.
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See Internal Revenue Code section 995(b) for additional information regarding deemed distributions.

Tax-deferred IC-DISC income reported to shareholdersThis amount was reported on Form 1120-ICDISC, Schedule K, Shareholders Statement of IC-DISC Distributions. An interest charge on the tax that would otherwise have been paid currently on this income amount was computed by IC-DISC shareholders on Form 8404, Computation of Interest Charge on DISC-Related Deferred Tax Liability. Total qualified export receipts and nonqualified receiptsThis sum was used as the starting point for the computation of the IC-DISCs net and taxable incomes. For IC-DISCs that acted as commission agents, total qualified export receipts and nonqualified receipts excluded the total receipts upon which the commission was earned and therefore represent only the commission amounts. Total qualified export receipts and nonqualified receipts included passive income (dividends, interest, capital or ordinary gains) amounts received by IC-DISCs. IC-DISC passive income amounts may be characterized as either qualified export receipts or nonqualified gross receipts.
Data Sources and Limitations
The Tax Year 2008 statistics in this article were compiled from Form 1120 IC-DISC returns with accounting periods ending between July 2007 and June 2008. Tax Year 2008 returns would have been filed during Calendar Years 2007, 2008, and 2009. The data presented excluded inactive IC-DISC returns. An IC-DISC was considered to be inactive if no receipts, deductions, income, or distributions were reported on the return. In addition, returns for corporations designated as former DISCs or former ICDISCs were excluded. Such corporations were those that had been disqualified as a DISC or an IC-DISC for a tax year prior to the Tax Year 2008 study. These disqualified DISC or IC-DISC entities were generally required to distribute any undistributed income that was previously taxed or accumulated DISC or IC-DISC income as a section 995 (b) (2) distribution during a 10-year period. The Tax Year 2008 IC-DISC study was designed to include the entire population of IC-DISC returns;
however, certain returns (for example, late filed returns with extensions) were unavailable for the statistics. The complete 2008 study file included 2,100 returns: 1,917 returns were included in the statistics, while 183 returns were inactive. With regard to nonsampling error, some data were inconsistently reported by taxpayers. Where possible, such inconsistencies were resolved to reflect provisions of the Internal Revenue Code and taxpayer intentions. The products and services classification system used in the 2008 IC-DISC study was generally based on Internal Revenue Service instructions provided to the taxpayer for completion of Schedule N, Export Gross Receipts of the IC-DISC and Related U.S. Persons. Products and services reported by a taxpayer on each specific return were reviewed for consistency with product information provided in supporting schedules and other taxpayer attachments and with the principal business activity described on the return. For example, a return was reviewed if the taxpayer indicated engineering services on Schedule N, despite the absence of any engineering and architectural services income on Schedule B, Gross Income. In addition, products and services reported by taxpayers on specific returns were reviewed for consistency with the major products and services group classification. Certain business activities, such as manufacturing, were not applicable to an IC-DISC. Therefore, an IC-DISC return reporting the manufacture of farm machinery equipment as the principal business activity would have been reviewed to ascertain if a more appropriate principal business activity was the wholesaling of farm machinery and equipment. For purposes of this article, data classified by product or service were compiled using the IC-DISCs largest grossing export product (in terms of gross receipts), without regard to any entry for the IC-DISCs second largest product or service reported on the Schedule N. To this extent, the industry statistics contained in this data release may be slightly overstated for certain industries and slightly understated for others.
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[Money amounts in thousands of dollars]
Table 1. Active Interest-Charge Domestic International Sales Corporation Returns: Assets, Receipts, Deductions, Income, and Total Export Gross Receipts of IC-DISCs and Related U.S. Persons, By Size of IC-DISC's Export Gross Receipts, Tax Year 2008
Taxable Income Total qualified export receipts and nonqualified receipts Selected independent computations of taxable income Total Portion attributable to excess qualified export receipts (5) 1,932,075 531 1,740 2,042 2,751 10,011 31,501 48,308 107,784 198,952 327,725 1,200,730 Actual distributions to shareholders (10) 3,013,084 79,656 86,610 80,394 83,497 141,715 137,855 143,248 236,986 335,323 409,448 1,278,351 Adjusted IC-DISC income subject to deferral computation [2] (6) 1,240,909 30,367 87,235 87,356 91,071 159,291 115,347 99,175 127,152 140,522 118,419 184,974
Size of IC-DISCs export gross receipts [1]
Number of returns
Total assets
Current-year tax-deferred income [2] (7) 1,362,795 30,335 87,059 88,041 90,794 160,297 118,915 100,996 132,466 153,675 136,822 263,393
(1) All returns Zero through $1,000,000 $1,000,001 through $3,000,000 $3,000,001 through $5,000,000 $5,000,001 through $7,000,000 $7,000,001 through $10,000,000 $10,000,001 through $15,000,000 $15,000,001 through $20,000,000 $20,000,001 through $30,000,000 $30,000,001 through $50,000,000 $50,000,001 through $100,000,000 Greater than or equal to $100,000,001 1,917 377 345 214 175 196 137 104 129 108 75 57
(2) 1,322,115 114,662 119,330 81,527 80,687 151,925 73,644 73,375 122,867 112,454 147,012 244,633
(3) 4,779,779 52,825 170,030 163,465 148,073 341,002 235,716 214,702 383,402 526,778 754,379 1,789,406 Total amount deemed distributed (8)
(4) 3,165,263 31,758 89,310 90,092 94,085 170,082 145,735 150,901 234,596 339,497 447,149 1,372,057 Tax-deferred IC-DISC income reported to shareholders (9) 536,629 82,486 71,432 48,694 36,135 83,450 37,772 31,101 85,749 18,568 21,862 19,380
Size of IC-DISCs export gross receipts [1]
Total current-year export gross receipts and IC-DISCs
Total (11) 38,209,118 128,848 700,872 837,086 1,056,383 2,091,420 1,702,894 1,792,168 3,472,931 4,461,925 5,186,882 16,777,710
IC-DISCs (12) 36,527,683 108,693 668,197 837,086 1,050,320 1,692,724 1,691,206 1,792,168 3,128,563 4,187,373 5,186,882 16,184,470
All returns Zero through $1,000,000 $1,000,001 through $3,000,000 $3,000,001 through $5,000,000 $5,000,001 through $7,000,000 $7,000,001 through $10,000,000 $10,000,001 through $15,000,000 $15,000,001 through $20,000,000 $20,000,001 through $30,000,000 $30,000,001 through $50,000,000 $50,000,001 through $100,000,000 Greater than or equal to $100,000,001
1,810,352 2,685 3,313 2,255 3,738 12,798 26,870 49,905 103,977 185,822 310,326 1,108,664
[1] The statistics presented in Table 1 are classified by amounts shown in column (12) divided by the number of returns in column (1). [2] Item restricted to non-negative amounts during table processing. NOTE: Detail may not add to totals because of rounding.
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Table 2. Active Interest-Charge Domestic International Sales Corporation Returns: Assets, Receipts, Deductions, Income, and Total Export Gross Receipts of IC-DISCs and Related U.S. Persons, by Selected Major Product or Service Group, Tax Year 2008
Assets Qualified assets Selected major product or service Number of returns Total [1]
Total (3) 1,311,482 169,849 1,141,633 1,690 110,235 7,428 1,431 42,085 5,111 44,261 10,978 171,024 1,649 8,224 2,822 5,110 45,686 57,775 137,250 197,697 116,295 116,548 58,334 Export receipts
Export property (4) 88,875 9,620 79,255 0 16,448 d 0 2,902 0 0 d 3,312 0 0 0 0 0 3,642 3,247 22,029 20,730 4,042 d
(1) All industries Nonmanufactured products and services Manufactured products Ordnance and accessories Food and kindred products Textile mill products Apparel and other finished goods Lumber and wood products Furniture and fixtures Paper and allied products Printing, publishing and allied products Chemicals and allied products Petroleum refining and related products Rubber and miscellaneous plastic products Leather and leather products Stone, clay, glass and concrete products Primary metal products Fabricated metal products Machinery, other than electrical Electrical machinery, equipment and supplies Transportation equipment Professional, scientific, and controlling instruments Miscellaneous manufactured products 1,917 231 1,686 6 115 16 13 62 17 49 22 154 11 41 4 12 130 186 333 190 130 122 73
(2) 1,322,115 169,851 1,152,265 1,690 110,247 7,428 1,431 42,720 5,111 44,295 10,978 171,489 1,649 8,224 2,822 5,132 47,531 57,775 143,612 197,697 117,547 116,552 58,334
Selected major product or service
Total liabilities [2]
Total qualified export receipts and nonqualified receipts [1] (6) 4,779,779 759,342 4,020,436 2,875 741,827 11,836 8,691 87,204 16,839 112,911 32,529 711,995 20,064 22,367 6,696 10,202 333,001 218,524 443,146 510,548 332,595 278,665 117,922
Qualified export receipts from the sale of export property (7) 4,552,005 628,342 3,923,663 2,875 694,593 11,249 8,673 85,905 16,781 112,568 32,446 688,930 20,064 22,332 5,747 10,202 331,386 217,915 437,667 503,753 327,845 275,686 117,045
Other qualified export receipts (8) 181,654 130,988 50,666 0 4,241 587 18 1,093 d 342 45 23,007 0 35 950 d 1,612 608 4,081 6,678 3,928 2,568 815
(5) All industries Nonmanufactured products and services Manufactured products Ordnance and accessories Food and kindred products Textile mill products Apparel and other finished goods Lumber and wood products Furniture and fixtures Paper and allied products Printing, publishing and allied products Chemicals and allied products Petroleum refining and related products Rubber and miscellaneous plastic products Leather and leather products Stone, clay, glass and concrete products Primary metal products Fabricated metal products Machinery, other than electrical Electrical machinery, equipment and supplies Transportation equipment Professional, scientific, and controlling instruments Miscellaneous manufactured products 257,257 12,937 244,321 d 62,841 606 149 4,733 d 8,348 1,734 -5,338 389 689 d 125 11,992 4,697 22,970 58,751 26,801 28,570 15,991
124
Footnotes at end of table.

Table 2. Active Interest-Charge Domestic International Sales Corporation Returns: Assets, Receipts, Deductions, Income, and Total Export Gross Receipts of IC-DISCs and Related U.S. Persons, by Selected Major Product or Service Group, Tax Year 2008Continued
Export promotion and other expenses Selected major product or service Cost of sales and operations Total [1] (9) (10) 292,661 53,008 239,654 d 14,785 1,416 767 18,440 5 15,266 574 48,996 955 356 d 25 2,366 8,056 24,073 44,383 27,831 28,097 3,196 Net income (less deficit) Selected major product or service Total (12) Net income (13) 3,172,848 667,477 2,505,371 2,874 228,786 8,603 4,523 40,817 16,834 89,176 28,883 595,982 19,109 19,838 6,453 10,156 212,607 197,329 323,644 297,039 164,787 143,172 94,758 Deficit (14) -5,343 -441 -4,903 0 -35 d d -1,690 0 -1,256 -2 -208 0 d 0 0 -2 -69 -660 -305 -237 -90 -318
Export promotion expenses (11) 189,675 7,984 181,692 0 9,352 1,317 711 15,469 d 3,972 780 41,707 d 164 d 22 1,408 5,637 18,955 37,574 17,783 23,217 2,603
All industries Nonmanufactured products and services Manufactured products Ordnance and accessories Food and kindred products Textile mill products Apparel and other finished goods Lumber and wood products Furniture and fixtures Paper and allied products Printing, publishing and allied products Chemicals and allied products Petroleum refining and related products Rubber and miscellaneous plastic products Leather and leather products Stone, clay, glass and concrete products Primary metal products Fabricated metal products Machinery, other than electrical Electrical machinery, equipment and supplies Transportation equipment Professional, scientific, and controlling instruments Miscellaneous manufactured products
1,319,613 39,298 1,280,314 0 498,291 d 3,411 29,637 0 9,725 d 67,225 0 2,184 d d 118,030 13,208 96,089 169,431 140,214 107,486 20,286
3,167,505 667,036 2,500,468 2,874 228,751 8,593 4,513 39,127 16,834 87,920 28,880 595,774 19,109 19,828 6,453 10,156 212,605 197,260 322,984 296,735 164,550 143,083 94,439
125

Taxable income Selected independent computations of taxable income Selected major product or service Total Portion attributable to excess qualified export receipts (16) 1,932,075 486,041 1,446,034 d 139,759 2,825 d 22,446 12,401 45,219 21,808 506,752 3,775 8,492 d 6,690 132,334 92,175 160,752 107,978 59,113 69,940 49,023 Adjusted IC-DISC income subject to deferral computation (17) 1,240,909 180,551 1,060,358 2,429 100,022 5,777 3,751 17,643 7,421 43,893 6,788 87,153 15,334 11,344 2,822 3,466 80,060 104,655 159,318 186,930 103,900 72,106 45,545 Tax-deferred IC-DISC income reported to shareholders (20) 536,629 54,452 482,177 0 27,676 6,373 806 15,062 1,454 -1,658 507 85,493 d 4,730 2,653 170 17,676 31,241 68,591 83,315 55,173 68,431 14,322 Current-year tax-deferred income (18) 1,362,795 218,836 1,143,960 2,429 102,013 5,763 3,746 17,368 8,808 44,274 6,765 120,038 18,719 11,336 2,807 4,571 90,224 118,895 160,212 191,046 115,626 73,810 45,511
(15) All industries Nonmanufactured products and services Manufactured products Ordnance and accessories Food and kindred products Textile mill products Apparel and other finished goods Lumber and wood products Furniture and fixtures Paper and allied products Printing, publishing and allied products Chemicals and allied products Petroleum refining and related products Rubber and miscellaneous plastic products Leather and leather products Stone, clay, glass and concrete products Primary metal products Fabricated metal products Machinery, other than electrical Electrical machinery, equipment and supplies Transportation equipment Professional, scientific, and controlling instruments Miscellaneous manufactured products 3,165,263 666,632 2,498,631 2,874 228,735 8,592 4,513 39,123 16,834 87,920 28,447 595,739 19,109 19,828 6,453 10,156 212,605 197,190 322,984 295,890 164,159 143,043 94,436
Total amount deemed distributed
Actual distributions to shareholders
(19) All industries Nonmanufactured products and services Manufactured products Ordnance and accessories Food and kindred products Textile mill products Apparel and other finished goods Lumber and wood products Furniture and fixtures Paper and allied products Printing, publishing and allied products Chemicals and allied products Petroleum refining and related products Rubber and miscellaneous plastic products Leather and leather products Stone, clay, glass and concrete products Primary metal products Fabricated metal products Machinery, other than electrical Electrical machinery, equipment and supplies Transportation equipment Professional, scientific, and controlling instruments Miscellaneous manufactured products
(21) 3,013,084 620,240 2,392,845 1,577 222,893 9,203 4,095 40,749 15,506 66,980 27,723 566,593 18,984 18,082 10,015 6,008 203,158 192,126 314,911 278,658 171,126 138,471 85,988
126
1,810,352 448,482 1,361,870 d 126,757 2,840 777 23,546 8,026 44,902 21,831 475,935 d 8,502 d 5,585 122,383 78,364 163,482 105,421 48,770 71,012 49,256

Total current-year export gross receipts of IC-DISCs Selected major product or service Total (22) IC-DISCs (23) 36,527,683 6,451,281 30,076,402 18,270 d 131,793 63,529 d 273,267 1,983,986 211,819 d 238,974 301,256 63,336 205,599 d d 3,561,067 d d 1,104,612 1,056,481
dNot shown to avoid discolsure of information about specific corporations. However, data are included in appropriate totals. [1] Excludes shareholder's equity accounts. [2] Item restricted to non-negative amounts during table processing. NOTE: Detail may not add to totals because of rounding.
38,209,118 6,750,183 31,458,936 18,270 4,347,728 131,793 63,529 673,855 273,267 1,983,986 211,819 5,576,456 238,974 301,256 63,336 205,599 3,548,538 2,539,567 3,626,422 3,415,046 2,010,112 1,172,902 1,056,481
127

Table 3. Active Interest-Charge Domestic International Sales Corporation Returns: Assets, Receipts, Deductions, Income and Total Export Gross Receipts of IC-DISCs and Related U.S. Persons, by Major and Minor Product or Service Group, Tax Year 2008
Assets Qualified assets Selected major product or service Number of returns Total [1] Total
Export property (4) 88,875 9,620 0 7,272 0 0 0 0 0 2,249 0 0 47 51 0 0 0 79,255 0 16,448 15,951 0 0 184 0 0 313 562 0 2,902 327 2,523 53 0 0 67 3,312 0 714 303 2,296 0 0 0 0 0 0 0
128
Total, All industries Nonmanufactured products and services, total Grains, including soybeans Vegatables and melons Fruit and tree nuts Greenhouse, nursery, and floriculture Other crops (including sugar beets, peanuts, spices, hops, and vegetable seeds) Livestock Poultry and eggs Fishery products and services (including shellfish) Fur bearing animals and unfinished hides Other animal products Export management services Computer software Motion picture distribution Engineering and architectural services Other nonmanufactured products Manufactured products, total Ordnance and accessories, total Food and kindred products, total Meat products Dairy products F i vegetables Fruits, bl and d seafoods f d Grain mill products Confectionary and related products Beverages Other food and kindred products Textile mill products, total Apparel and other finished goods, total Lumber and wood products (except furniture), total Logs and log products Lumber construction materials (including millwork, veneer, and plywood) Other lumber and wood products Furniture and fixtures, total Paper and allied products, total Printing, publishing, and allied products, total Chemicals and allied products, total Industrial inorganic and organic chemicals Plastics materials, synthetic resins, synthetic rubber, and synthetic fibers Drugs Soap, detergents, and cleaning preparations, perfumes, cosmetics, and toiletries Paints, varnishes, lacquers, enamels, and allied products Agricultural chemicals Other chemical and allied products Petroleum refining and related products, total Rubber and miscellaneous plastics products, total Leather and leather products, total Stone, clay, glass, and concrete products, total
(1) 1,917 231 14 9 52 3 18 3 3 21 5 4 24 30 4 30 11 1,686 6 115 24 7 25 2 4 8 6 42 16 13 62 15 32 15 17 49 22 154 27 45 15 22 14 4 27 11 41 4 12
(2) 1,322,115 169,851 18,540 23,161 11,976 2,596 13,377 204 2,037 4,543 3,521 188 7,622 66,633 378 14,442 635 1,152,265 1,690 110,247 53,263 660 6,933 6 933 873 19,775 4,813 23,933 7,428 1,431 42,720 9,082 15,690 17,948 5,111 44,295 10,978 171,489 27,602 99,131 4,078 27,566 627 967 11,519 1,649 8,224 2,822 5,132
(3) 1,311,482 169,849 18,540 23,161 11,975 2,596 13,376 204 2,037 4,543 3,521 188 7,622 66,633 378 14,442 635 1,141,633 1,690 110,235 53,263 660 6,933 6 933 873 19,775 4,803 23,931 7,428 1,431 42,085 8,447 15,690 17,948 5,111 44,261 10,978 171,024 27,602 98,666 4,078 27,566 627 967 11,519 1,649 8,224 2,822 5,110

Table 3. Active Interest-Charge Domestic International Sales Corporation Returns: Assets, Receipts, Deductions, Income and Total Export Gross Receipts of IC-DISCs and Related U.S. Persons, by Major and Minor Product or Service Group, Tax Year 2008Continued
Assets Qualified assets Selected major product or service Number of returns Total [1] Total
Export property (4) 0 0 0 0 3,642 3,470 172 0 0 0 0 0 3,247 0 624 1,425 0 482 268 448 0 22,029 3,522 12,064 1,973 0 0 957 0 3,512 20,730 4,537 16,193 0 0 4,042 d d d 0 2,275
Primary metal products, total Iron and steel products Nonferrous metal products Other primary and secondary nonfabricated metal products Fabricated metal products, total Cutlery, hand tools, and general hardware Heating apparatus (except electric) and plumbing fixtures Fabricated structural metal products Screw machine products and bolts, nuts, screws, rivets, and washers Metal stampings Coated and engraved metal products Other fabricated metal products Machinery, other than electrical, total Engines and turbines Farm machinery and equipment Construction, mining, and materials handling machinery and equipment Metalworking machinery and equipment Special industry machinery (except metalworking machinery) General industrial machinery and equipment Service industry machinery Other machinery (except electrical and electronic) Electrical machinery, total Electric power transmission and distribution equipment (including transformers, motors and generators) Household appliances Electric lighting and wiring equipment Audio and video equipment (except communication types) Communication equipment Semiconductors, capacitors, resistors, and other electrical components Computer and peripheral equipment Other electrical and electronic machinery, equipment, and supplies Transportation equipment, total Motor vehicles and motor vehicle equipment Aircraft and aircraft parts and equipment Ships and nautical equipment Other transportation equipment Professional, scientific, and controlling instruments, total Engineering, laboratory, and scientific and research instruments, and associated equipment Instruments for measuring, controlling, and indicating physical characteristics Surgical, medical, and dental instruments and supplies Other professional, scientific, and controlling instruments Miscellaneous manufactured products, total
(1) 130 33 36 61 186 15 28 25 4 19 5 90 333 11 16 39 27 135 52 12 41 190 29 9 18 10 6 41 13 64 130 59 44 16 11 122 27 33 51 11 73
(2) 47,531 7,886 23,093 16,552 57,775 6,676 6,212 12,997 2,894 4,833 393 23,771 143,612 1,229 19,554 35,907 12,411 42,352 20,773 3,336 8,050 197,697 42,809 28,275 22,037 5,499 4,345 52,222 3,557 38,954 117,547 42,456 68,987 2,870 3,235 116,552 20,887 14,877 75,624 5,163 58,334
(3) 45,686 7,886 21,548 16,252 57,775 6,676 6,212 12,997 2,894 4,833 393 23,771 137,250 1,211 19,554 29,816 12,411 42,348 20,773 3,099 8,039 197,697 42,809 28,275 22,037 5,499 4,345 52,222 3,557 38,954 116,295 42,429 68,402 2,229 3,235 116,548 20,885 14,877 75,622 5,163 58,334
129

Export receipts Qualified export receipts from the sale of export property (7) 4,552,005 628,342 57,539 30,828 82,695 6,684 12,553 1,786 6,271 126,909 4,616 2,638 11,436 251,237 3,283 22,731 7,137 3,923,663 2,875 694,593 427,441 44,612 60,521 60 21 9,659 6,031 13,336 133,099 11,249 8,673 85,905 24,579 38,682 22,644 16,781 112,568 32,446 688,930 21,670 241,257 44,930 349,325 14,156 1,457 16,135 20,064 22,332 5,747 10,202
Total qualified export receipts and nonqualified receipts
Other qualified export receipts
130
(5) 257,257 12,937 167 3,028 1,857 13 91 135 0 235 2,295 0 2,439 2,170 0 1 505 244,321 219 62,841 45,003 613 344 7 751 13 16,110 606 149 4,733 142 3,202 1,390 4 8,348 1,734 -5,338 -30,095 9,764 d 13,276 d d 1,428 389 689 51 125
(6) 4,779,779 759,342 59,692 35,694 82,871 6,706 12,988 1,786 6,362 126,909 4,616 2,638 27,925 254,530 4,226 125,263 7,137 4,020,436 2,875 741,827 470,987 44,620 60,578 60 8 9,659 6,748 15,826 133,513 11,836 8,691 87,204 24,942 38,983 23,279 16,839 112,911 32,529 711,995 41,162 243,521 44,937 349,425 14,443 1,457 17,052 20,064 22,367 6,696 10,202
(8) 181,654 130,988 2,154 4,875 175 22 435 -2 91 -2 0 0 16,490 3,293 942 102,511 0 50,666 0 4,241 563 0 57 -2 717 2,489 415 587 18 1,093 226 232 635 57 342 45 23,007 19,492 2,218 5 99 276 -2 917 0 35 950 -2

Export receipts Qualified export receipts from the sale of export property (7) 331,386 64,181 144,653 122,552 217,915 9,237 41,332 40,506 2,282 15,863 970 107,727 437,667 11,501 34,579 73,108 24,751 125,959 96,751 17,345 53,675 503,753 73,120 34,649 80,264 14,265 6,289 189,156 11,046 94,965 327,845 95,950 177,978 42,358 11,558 275,686 58,065 24,720 185,624 7,277 117,045
Total qualified export receipts and nonqualified receipts
Other qualified export receipts
(5) 11,992 3,392 6,912 1,688 4,697 286 2,215 280 33 345 380 1,159 22,970 0 3,531 5,002 786 9,223 2,193 597 1,638 58,751 23,260 d 8,162 d d 18,781 2,599 2,764 26,801 4,195 20,702 1,894 10 28,570 d d 19,221 d 15,991
(6) 333,001 64,216 145,327 123,458 218,524 9,377 41,426 40,516 2,508 15,863 970 107,865 443,146 11,503 34,881 74,420 25,143 129,268 96,876 17,363 53,693 510,548 75,484 34,850 80,257 14,833 6,312 191,661 11,080 96,071 332,595 96,277 179,500 42,364 14,454 278,665 58,564 24,829 187,529 7,743 117,922
(8) 1,612 33 673 906 608 141 94 10 225 0 0 138 4,081 3 302 1,261 390 1,967 123 18 17 6,678 2,354 201 -7 568 23 2,464 34 1,041 3,928 327 699 6 2,896 2,568 499 109 1,494 467 815
131

Export promotion and other expenses Selected major product or service Cost of sales and operations Total
Export promotion expenses (11) 189,675 7,984 1,021 2,590 866 0 193 1 1 134 1 1,054 147 1,773 0 155 47 181,692 0 9,352 4,931 1 2 251 1 36 22 27 4,083 1,317 711 15,469 14,161 1,135 173 (2) 3,972 780 41,707 222 10,522 3,505 25,574 63 12 1,809 955 164 66 22
132
(9) 1,319,613 39,298 1,643 17,877 4,440 0 1,227 0 0 0 0 267 347 722 2,875 9,900 0 1,280,314 0 498,291 418,622 0 5,585 8 1,417 1,000 0 71,668 1,827 3,411 29,637 482 24,944 4,211 0 9,725 3,075 67,225 192 50,697 5,037 10,010 0 0 1,288 0 2,184 177 21
(10) 292,661 53,008 1,256 3,033 2,034 15 303 1 1 144 64 1,626 181 4,218 104 39,980 45 239,654 -2 14,785 8,244 7 309 429 552 308 4,936 1,416 767 18,440 14,177 3,872 392 5 15,266 574 48,996 642 14,274 4,961 26,584 64 12 2,460 955 356 66 25

Export promotion and other expenses Selected major product or service Cost of sales and operations Total
Export promotion expenses (11) 1,408 120 1,270 18 5,637 1,109 4,016 85 0 130 0 297 18,955 0 d 9,733 d 2,863 2,740 d 580 37,574 5,796 2,731 6,040 2 117 19,684 5 3,198 17,783 d 15,300 d d 23,217 8,419 1,086 13,469 244 2,603
(9) 118,030 10,700 102,617 4,713 13,208 1,324 1,576 5,125 1,811 2,140 0 1,231 96,089 0 12,188 17,465 7,122 24,719 17,946 11,081 5,568 169,431 40,182 21,519 57,852 3,844 3,255 31,440 0 11,340 140,214 d 104,442 d 0 107,486 16,153 1,527 88,977 828 20,286
(10) 2,366 274 1,847 245 8,056 1,124 6,422 103 49 -147 0 505 24,073 1 922 10,630 868 3,484 5,872 1,648 649 44,383 6,999 3,474 8,001 d d 21,543 d 4,085 27,831 d 22,334 d d 28,097 9,529 1,396 16,833 340 3,196
133

Net income (less deficit) Selected major product or service Total Net income Deficit
134
(12) 3,167,505 667,036 56,793 14,784 76,397 6,691 11,458 1,784 6,361 126,765 4,551 745 27,397 249,590 1,246 75,383 7,091 2,500,468 2,874 228,751 44,121 44,613 54,685 4 68 7,813 5,196 15,518 56,909 8,593 4,513 39,127 10,284 10,167 18,676 16,834 87,920 28,880 595,774 40,327 178,550 34,939 312,831 14,378 1,445 13,304 19,109 19,828 6,453 10,156
(13) 3,172,848 667,477 d 14,784 d 6,691 d 1,784 6,361 d 4,551 d d d 1,246 d d 2,505,371 2,874 228,786 d 44,613 d d 5,196 15,518 d 8,603 4,523 40,817 d d d 16,834 89,176 28,883 595,982 40,327 d d d d d d 19,109 d 6,453 10,156
(14) -5,343 -441 d 0 d 0 d 0 0 d 0 d d d 0 d d -4,903 0 -35 d 0 d d 0 0 d -10 -10 -1,690 d d d 0 -1,256 -2 -208 0 d d d d d d 0 d 0 0

Net income (less deficit) Selected major product or service Total Net income Deficit
(12) 212,605 53,242 40,864 118,500 197,260 6,929 33,427 35,288 648 13,870 970 106,129 322,984 11,503 21,771 46,326 17,152 101,064 73,058 4,635 47,476 296,735 28,303 9,857 14,404 10,978 2,933 138,679 10,933 80,647 164,550 55,443 52,724 41,948 14,435 143,083 32,882 21,907 81,720 6,575 94,439
(13) d 53,242 d d 197,329 6,993 33,428 35,290 648 13,872 970 106,129 323,644 11,503 21,771 46,422 17,152 101,580 73,095 4,635 47,486 297,039 28,303 9,857 14,404 10,978 2,933 138,972 10,934 80,659 164,787 55,676 52,725 41,951 14,435 143,172 32,882 21,909 81,755 6,627 94,758
(14) d 0 d d -69 -64 -1 -3 0 -2 0 0 -660 -1 0 -96 0 -515 -38 0 -10 -305 0 0 0 0 0 -293 -1 -12 -237 -233 -1 -3 0 -90 0 -2 -36 -52 -318
135

Taxable income Selected independent computations of taxable income Selected major product or service Total Portion attributable to excess qualified export receipts (16) 1,932,075 486,041 52,527 4,508 41,205 5,316 5,471 1,105 2,094 95,835 2,341 0 3,692 226,590 0 45,300 57 1,446,034 159 139,759 38,109 22,479 29,267 29 26 4,841 1,413 10,482 33,166 2,825 772 22,446 5,547 d d 12,401 45,219 21,808 506,752 d 160,138 d 296,982 7,904 0 d 3,775 8,492 3,622 6,690 Adjusted ICDISC income subject to deferral computation [3] (17) 1,240,909 180,551 4,269 10,052 35,080 1,375 5,588 679 4,267 30,943 2,210 756 23,655 23,213 1,246 30,184 7,034 1,060,358 2,429 100,022 16,999 22,134 25,362 2 362 3,003 3,770 5,036 23,824 5,777 3,751 17,643 4,733 9,112 3,798 7,421 43,893 6,788 87,153 19,509 17,947 15,313 16,023 6,474 1,451 10,435 15,334 11,344 2,822 3,466 Current-year tax-deferred income (18) 1,362,795 218,836 42,401 10,052 35,086 1,375 5,480 679 4,267 30,943 2,210 756 23,777 23,345 1,246 30,184 7,034 1,143,960 2,429 102,013 19,170 22,134 25,215 2 21 3,003 3,760 5,036 23,800 5,763 3,746 17,368 4,447 9,122 3,798 8,808 44,274 6,765 120,038 36,616 33,862 14,963 16,011 6,474 1,451 10,660 18,719 11,336 2,807 4,571
136
(15) 3,165,263 666,632 56,793 14,560 76,283 6,691 11,458 1,784 6,361 126,765 4,551 745 27,346 249,573 1,246 75,383 7,091 2,498,631 2,874 228,735 44,121 44,613 54,685 4 68 7,813 5,184 15,518 56,905 8,592 4,513 39,123 10,284 10,163 18,676 16,834 87,920 28,447 595,739 40,327 178,518 34,935 312,831 14,378 1,445 13,304 19,109 19,828 6,453 10,156

Taxable income Selected independent computations of taxable income Selected major product or service Total Portion attributable to excess qualified export receipts (16) 132,334 33,348 13,470 85,516 92,175 1,476 16,499 21,262 0 4,173 0 48,765 160,752 6,806 12,260 27,161 4,561 34,080 50,314 835 24,735 107,978 11,846 4,853 3,091 3,462 649 39,800 3,164 41,112 59,113 30,283 d d d 69,940 d d 52,208 d 49,023 Adjusted ICDISC income subject to deferral computation [3] (17) 80,060 19,832 27,309 32,918 104,655 5,387 16,649 14,018 648 9,699 970 57,285 159,318 4,698 9,218 18,577 12,482 65,049 22,781 3,777 22,735 186,930 15,612 4,958 11,312 7,516 2,284 98,346 7,770 39,131 103,900 24,903 39,892 31,948 7,159 72,106 22,008 16,519 28,744 4,836 45,545 Current-year tax-deferred income (18) 90,224 24,962 28,175 37,087 118,895 5,504 18,841 24,197 648 9,699 970 59,038 160,212 4,698 9,076 18,529 12,417 65,114 23,964 3,765 22,649 191,046 15,467 7,820 11,233 7,516 2,284 98,565 7,770 40,390 115,626 29,141 39,924 39,402 7,159 73,810 21,875 16,914 28,409 6,612 45,511
(15) 212,605 53,242 40,864 118,500 197,190 6,929 33,357 35,288 648 13,870 970 106,129 322,984 11,503 21,771 46,326 17,152 101,064 73,058 4,635 47,476 295,890 27,584 9,811 14,404 10,978 2,933 138,619 10,933 80,627 164,159 55,136 52,639 41,948 14,435 143,043 32,846 21,903 81,719 6,575 94,436
137

Major and minor product or service group
Tax-deferred IC-DISC income reported to shareholders
Total export gross receipts
138
(19) 1,810,352 448,482 14,394 4,508 41,516 5,316 5,989 1,105 2,094 95,835 2,341 0 3,570 226,458 0 45,300 57 1,361,870 445 126,757 24,952 22,479 29,471 29 4 1 4,841 1,424 10,482 33,107 2,840 777 23,546 5,942 2,723 14,881 8,026 44,902 21,831 475,935 d 144,687 19,973 296,994 d 0 d 390 8,502 3,646 5,585
(20) 536,629 54,452 10,748 10,081 4,710 1,476 11,913 3 2,030 3,793 692 0 3,689 4,051 0 1,266 -2 482,177 0 27,676 2,714 0 825 82 243 17,928 2,625 3,341 6,373 806 15,062 7,847 7,455 -241 1,454 -1,658 507 85,493 39,991 26,541 1,310 10,884 168 138 6,462 159 4,730 2,653 170
(21) 3,013,084 620,240 16,075 6,279 74,547 12,079 13,734 1,922 6,376 127,112 4,706 569 29,107 241,266 990 71,847 13,631 2,392,845 1,577 222,893 43,106 44,575 50,047 0 04 7,844 6,224 13,089 58,112 9,203 4,095 40,749 10,255 11,380 19,113 15,506 66,980 27,723 566,593 35,040 144,407 d 321,680 d d 12,783 18,984 18,082 10,015 6,008
(22) 38,209,118 6,750,183 1,940,432 154,552 920,046 52,694 175,652 55,930 242,064 1,010,451 542,417 14,939 198,430 852,888 8,847 494,276 86,562 31,458,936 18,270 4,347,728 1,868,363 699,758 531,668 31 668 167,051 65,887 201,291 814,760 131,793 63,529 673,855 271,053 285,142 117,660 273,267 1,983,986 211,819 5,576,456 614,786 2,718,599 315,838 1,586,402 97,499 9,126 234,206 238,974 301,256 63,336 205,599

Major and minor product or service group
Tax-deferred IC-DISC income reported to shareholders
Total export gross receipts
(19) 122,383 28,279 12,689 81,414 78,364 1,489 14,517 11,093 0 4,173 0 47,091 163,482 6,806 12,696 27,893 4,735 36,466 49,181 869 24,836 105,421 12,117 1,991 3,171 3,462 649 40,370 3,164 40,498 48,770 26,228 d d d 71,012 d d 53,397 d 49,256
(20) 17,676 1,941 8,538 7,196 31,241 5,953 d 3,926 d d 0 12,935 68,591 1,510 10,126 15,089 8,016 18,235 10,444 1,803 3,368 83,315 11,604 24,466 9,028 d d 11,711 d 23,099 55,173 23,982 29,534 1,595 61 68,431 11,800 8,547 46,108 1,977 14,322
(21) 203,158 54,596 35,058 113,504 192,126 d 39,036 29,429 d 13,506 d 101,901 314,911 13,360 21,409 43,913 17,271 96,522 67,210 4,018 51,207 278,658 29,429 8,657 15,921 8,496 3,111 125,338 12,015 75,691 171,126 56,617 50,085 47,786 16,637 138,471 32,322 17,533 82,858 5,758 85,988
(22) 3,548,538 715,201 739,467 2,093,871 2,539,567 118,718 422,282 288,542 7,512 177,594 28,623 1,496,297 3,626,422 106,313 226,801 677,238 210,138 1,163,210 753,885 76,663 412,173 3,415,046 356,521 166,093 228,784 102,847 41,562 1,674,601 78,989 765,648 2,010,112 980,584 526,483 332,744 170,301 1,172,902 203,304 210,145 697,753 61,699 1,056,481
dNot shown to avoid disclosure of information about specific corporations. However, detail are included in the appropriate totals. [1] Includes items not shown separately. [2] Excludes shareholder's equity accounts. [3] Item restricted to non-negative amounts during table processing. NOTE: Detail may not add to totals because of rounding.
139

2008 Ic Disc Stats

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2008 Ic Disc Stats

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Interest-Charge Domestic International Sales Corporations, Tax Year 2008

Background and Current Law

Interest-Charge Domestic International Sales Corporations, 2008

Interest-Charge Domestic International Sales Corporations, 2008

Corporations (except S Corporations) (11.7%)

Individuals, partnerships, trusts, estates, or S Corporations (86.1%)

1,917 total IC-DISC returns

Interest-Charge Domestic International Sales Corporations, 2008

Interest-Charge Domestic International Sales Corporations, 2008

Explanation of Selected Terms

Interest-Charge Domestic International Sales Corporations, 2008

Interest-Charge Domestic International Sales Corporations, 2008

Data Sources and Limitations

Interest-Charge Domestic International Sales Corporations, 2008

[Money amounts in thousands of dollars]

Size of IC-DISCs export gross receipts [1]

Size of IC-DISCs export gross receipts [1]

Total current-year export gross receipts and IC-DISCs

Interest-Charge Domestic International Sales Corporations, 2008

[Money amounts in thousands of dollars]

Selected major product or service

Total liabilities [2]

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

[Money amounts in thousands of dollars]

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

[Money amounts in thousands of dollars]

Selected major product or service

Total amount deemed distributed

Actual distributions to shareholders

Interest-Charge Domestic International Sales Corporations, 2008

[Money amounts in thousands of dollars]

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.

(1) 1,917 231 14 9 52 3 18 3 3 21 5 4 24 30 4 30 11 1,686 6 115 24 7 25 2 4 8 6 42 16 13 62 15 32 15 17 49 22 154 27 45 15 22 14 4 27 11 41 4 12

Interest-Charge Domestic International Sales Corporations, 2008

(1) 130 33 36 61 186 15 28 25 4 19 5 90 333 11 16 39 27 135 52 12 41 190 29 9 18 10 6 41 13 64 130 59 44 16 11 122 27 33 51 11 73

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Selected major product or service

Total liabilities [2]

Total qualified export receipts and nonqualified receipts

Other qualified export receipts

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Selected major product or service

Total liabilities [2]

Total qualified export receipts and nonqualified receipts

Other qualified export receipts

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.

Interest-Charge Domestic International Sales Corporations, 2008

Footnotes at end of table.