1. Corporate Welfare in America
... countries designated by Congress. The company then sends its exports through its offshore foreign sales corporation. Doing this a company can save 15% or more in federal income tax (Barlett & Steele, Nov. 16, 1998). In the Virgin Island there are 3,600 corporations with foreign sales subsidiaries on the islands. Business buildings to house all these offices are not part of the business area ... of the islands. The companies just hire a local firm to maintain their records, open a bank account, and provide an offshore postal address. The government stipulates that the corporation has to ...
- Word Count: 2005
- Approx Pages: 8
- Has Bibliography
- Grade Level: High School