QFTI

AcronymDefinition
QFTIQualifying Foreign Trade Income (US law)
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941(a)(1), QFTI determined under the 1.2%-of-gross-receipts method may not exceed twice the amount determined to be QFTI under the 15% method.
* The partnership meets any other requirements set forth in regulations; the partnership would have to allocate to the partners their respective items of income, gain, loss and deduction (including QFTI) on the basis of such accounts.
(3) A taxpayer that chooses to calculate QFTI using the 30%-of-foreign-sale-and-leasing-income method will have to calculate its foreign-trade income attributable to such activities performed outside the U.S.