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US Court of Federal Claims: position of taxpayer upheld under FSC regime

|Approved Changes|United States
United States

The US Court of Federal Claims has upheld the position of a taxpayer under the Foreign Sales Corporation (FSC) regime. CBS Corporation & Subsidiaries v. The United States of America, Docket No. 10-153T (11 May 2012). The Court permitted the taxpayer to exclude depreciation attributable to exempt FSC income when computing gain from disposition of an asset sold for export and thus dec…

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