foreign branch income
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 904 — in this section
The term "foreign branch income" means the business profits of such United States person which are attributable to 1 or more qualified business units (as defined in section 989(a)) in 1 or more foreign countries. For purposes of the preceding sentence, the amount of business profits attributable to a qualified business unit shall be determined under rules established by the Secretary.