foreign corporation

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foreign corporation

n. a corporation which is incorporated under the laws of a different state or nation. A "foreign" corporation must file a notice of doing business in any state in which it does substantial regular business. It must name an "agent for acceptance of service" in that state, or the Secretary of State in some jurisdictions will automatically be that agent so people doing business with a foreign corporation will be able bring legal actions locally if necessary. Example: the Whoopee Widget Corporation is incorporated in Delaware. It has a sales office in Arizona, which does not make a guaranteed refund to Jack Jones of Arizona. Jones can sue Whoopee in Arizona and serve the Arizona Secretary of State or Whoopee's designated agent.

References in periodicals archive ?
An officer or employee of a domestic corporation whose equity securities are listed on a national securities exchange or which has assets exceeding $10 million and 500 or more shareholders of record, is not required to report having signature or other authority over a foreign account if the person has no personal financial interest in the account, and the officer or employee has been advised in writing by the chief financial officer of the corporation that the corporation has filed a current report that includes the foreign account.
7701-2(c) (part of the check-the-box regulations) to treat a domestic disregarded entity that is wholly owned by one foreign person as a domestic corporation that is separate from its owner for purposes of the Sec.
In its comments concerning the treatment of separate units as domestic corporations, TEI explained that the rules imply that a loss arising from a foreign branch separate unit will be treated as a DCL even where the branch is not subject to an income tax of a foreign country.
Because the latter tax is more easily manipulated, a domestic corporation ends up paying only 20% of the franchise tax it would pay if it were a foreign corporation.
The shareholders (or partners) of the domestic corporation (or partnership) hold at least 60% of the vote or value of the foreign corporation by reason of holding stock in the domestic corporation (or interest in the partnership); and
1503-2(c)(5)(i) to mean the net operating loss of a domestic corporation incurred in a year in which the corporation is a dual resident corporation (DRC).
The shareholders (or partners) of the domestic corporation (or partnership) acquire at least 60% of the vote or value of the foreign corporation by reason of holding stock in the domestic corporation (or interest in the partnership) (the ownership test); and
a domestic corporation or partnership that incorporated in a foreign jurisdiction in name only).
Because the publicly traded test refers to a person, and a partnership is treated as a person, it follows that if a partnership has a 5% or less interest in a domestic corporation that satisfies the publicly traded exception, such interest would not be a USRPI.
However, withholding is not required to the extent the distributing domestic corporation obtains a withholding certificate from the IRS reducing or eliminating the withholding tax.
Although a domestic corporation generally calculates E&P by making adjustments to U.
If a domestic corporation includes in income an amount attributable to the earnings of a foreign corporation that is a member of the domestic corporation's qualified group (under Sec.