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 ?
Congress enacted the provision out of a concern that foreign corporations would establish a U.
Noticeably absent from the list of QFCs that are ineligible to pay qualified dividends are controlled foreign corporations (CFC).
In the 1960s Congress decided to tax some of this income when it was earned (rather than when it was brought back into the United States), by taxing certain controlled foreign corporations (CFCs).
These rules often overlap when applied to foreign corporations owned by U.
These databases do not contain an exhaustive list of qualified foreign corporations, meaning that intermediaries may incorrectly report the distributions as ordinary dividends on Form 1099-DIV.
Foreign corporations investing in the United States through a partnership that generates effectively connected income (ECI) must file a branch return (Form 1120-F, U.
The income of controlled foreign corporations has become increasingly subject to U.
Compliance Initiative for Nonresident Aliens and Foreign Corporations
6011-4T(c)(3)(ii) requires certain United States shareholders in controlled foreign corporations to report their "indirect" participation if the controlled foreign corporation directly participates in a reportable transaction described in Temp.
Moreover, the company said the Alabama domestic shares tax--which foreign corporations do not pay--did not offset the discrimination resulting from the foreign corporation franchise tax.
In the past, the purpose of tax planning was to make sure that foreign corporations were not considered "controlled" by U.

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