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The article offers a study on the foreign trust returns in the U.S. for 2006. It says that there is a 5,900 percent increase in the returns reports filed for the foreign grantor and nongrantor trust transactions and certain foreign gifts from 1990 to 2006. It features the modifications in the Small Business Job Protection Act of 1996, a tax law governing foreign trusts in response to concerns of taxpayer abuse.

The article offers information on the claims for possessions tax credit by the U.S. corporations. It says that the trend in claiming for possession tax credits stated to decline in the 1990's. It says that decline happened simultaneously with increased legislative restrictions on the use of the possessions tax credit. It mentions that pharmaceuticals and medicines manufacturers in Puerto Rico reported majority of the possessions tax credit before the U.S. Possessions Tax Credit was repealed.

The article looks at the tax returns of possessions corporations in the U.S. for tax year 2003. The requirements and qualifications for obtaining the possessions tax credit by possessions corporations are discussed. A total of $1.1 billion of possessions tax credits has been claimed by a number of Puerto Rico-based possessions corporations.

Presents information on the corporate possessions tax credit claimed in the U.S. in 2001. Decline in number of possessions corporations; Total amount of possessions tax credit claimed for the year; Factors that contribute to the decline of possessions tax credit claims since 1990.

Provides statistical information on income tax returns reported for foreign trusts in the U.S. in 2002. Tax law governing foreign trusts; Types of trust arrangements; Filing characteristics of Forms 3520.

Provides information on the income tax returns filed by foreign sales corporations (FSC) in the U.S. for the tax year 2000. Calculation of net exempt income of FSCs; Legislative history of FSC tax exemption; Pricing methods that may be used by FSC for different transactions; Data for FSC returns classified by the country of incorporation.

Presents statistics on foreign-owned domestic corporations that reported transactions with related foreign persons for 1993. Involvement of sales and purchases of stock in trade for most of the transactions; Outstanding balances of domestic corporations; Largest dollar volume of transactions reported by companies classified as wholesalers or retailers.

Provides information on foreign sales corporations (FSCs) in the United States in 1992. Goal of the creation of the entities in accordance with the Deficit Reduction Act of 1984; Gross receipts; Largest manufactured product or service.

Presents 1992 statistics on transactions between large foreign-owned domestic corporations and related foreign persons in the United States. Amounts received from and payments to related foreign persons; Industrial divisions of foreign-owned corporations; Country of residence of related foreign persons; Amounts borrowed and loaned from persons.