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 ?
CFCs and 10/50 corporations) adoption of methods of accounting for purposes of determining E&P, the procedural rules regarding how such foreign corporations change their method of accounting, and the importance of understanding when and how a method is adopted in light of the increased limitations such foreign corporations may face in changing methods.
persons who are officers, directors, or shareholders in certain foreign corporations.
881(b)(2)], and foreign corporations are defined as those organized under the laws of a foreign country or U.
For Tax Year 2004, foreign corporations controlled by U.
Enacted in 1986, (11) the purpose of the branch profits tax is to bring about more similar tax treatment of foreign corporations operating in the United States through 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.
Many foreign corporations which had never been subject to U.

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