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LSDefine

Simple English definitions for legal terms

DISC

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A quick definition of DISC:

Term: DISC

Definition: DISC stands for Domestic International Sales Corporation. It is a type of company that helps businesses save money on taxes when they sell products overseas.

A more thorough explanation:

Definition: DISC stands for Domestic International Sales Corporation. It is a type of corporation that was created by the U.S. government to encourage American companies to export their products. A DISC is a tax-exempt entity that allows companies to reduce their tax liability on profits earned from exporting goods.

Example: Let's say that a company called ABC Inc. exports $1 million worth of goods to Europe. If ABC Inc. sets up a DISC, it can transfer the profits earned from exporting to the DISC. The DISC will then pay a lower tax rate on those profits, which reduces ABC Inc.'s overall tax liability.

Explanation: The example illustrates how a DISC can help a company reduce its tax liability on profits earned from exporting goods. By setting up a DISC, the company can transfer its profits to the DISC, which is taxed at a lower rate. This reduces the company's overall tax liability and encourages it to continue exporting its products.

disbursement | discarcare

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20:28
oh okay it’s coming!
Dkk
20:28
No Wl, No R, No A. It will probably be a while for me cus of my weird stats and softs.
babycat
20:28
me neither but I applied this month
Dkk
20:29
Yeah, I would say you gotta wait until Chrsitmas or early january now.
babycat
20:29
I’ll probably wait another month or two before I start freaking out
2big2fail
20:29
@Dkk: what are weird softs
Dkk
20:29
That is a good plan.
babycat
20:30
he’s a crypto billionaire
2big2fail
20:30
he beat mike tyson in a boxing match
2big2fail
20:30
last week
babycat
20:30
he also has a hot tub which is a big deal
Dkk
20:30
Paralegal, military, entrepreneurship, crypto, weird other work experiences like Disney. COVID issues, UCLA issues, drug addiction with my brother.
Dkk
20:31
Yeah, hot tub is the biggest one.
@Dkk: I feel ur pain with no responses yet
2big2fail
20:31
were you a disney channel child star
we are all going crazy
babycat
20:32
he’s bridgit mendler
2big2fail
20:32
im just waiting for pellerdine
2big2fail
20:32
peggerdine
Dkk
20:32
Crypto is booming right now and my friend is CPO of a carbon creidt company on the blockchain and the Canadian government has called him like 3 times this week and he needs help so he actually just gave me a job offer today.
i aspire to be bridgit mendler
Dkk
20:32
Nah, just security there.
wait are u actuaLLY a big crypto guy
m10
20:33
Yeah, like huge into the Cardano space. One of the runner ups for the government on Cardano.
do yall think admissions judges what job you have during ur gap year
babycat
20:34
probably
m10
20:34
My constitution that I wrote is getting submitted on the 30th and if the community likes it, then I will be the first person in the world to write a constitution for on-chain blockchain based governance.
m10
20:34
Right now it's me and two other people.
babycat
20:34
you should meet the urbit guys. they have thielbux I think
damn, i was impatient to hear back from my jobs so i was just gonna work retail but idk if admissions is high brow about that
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