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 ?
person who controlled a foreign corporation for at least 30 days during the tax year.
Notice 2011-64 further updates the list to reflect two new income tax treaties that have entered into force since the publication of Notice 2006-101, and also clarifies the requirements for treatment as a qualified foreign corporation.
A foreign corporation is not subject to taxation bv the United States on income that is neither from U.
corporation is required by Internal Revenue Service regulations to submit a Form 5471 for any Controlled Foreign Corporation (CFC) with an accounting period ending with or within the U.
To address the surtax result, this Part proposes two changes aimed at increasing the usefulness of the current rule that permits a foreign corporation to avoid deemed remittances of U.
To be eligible for this reduced rate, the dividends must be received from either a domestic corporation or a qualified foreign corporation (QFC).
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).
In addition, Internal Revenue Code Section 1291 (b)(3)(F) coordinates with the controlled foreign corporation provisions so the additional charge will not apply if amounts are included in income under the Controlled Foreign Corporation rules.
Further, in some cases, a foreign corporation may be required to use a financial statement that is prepared under the GAAP of a foreign country.
If a foreign corporation has established economic nexus in California, then it will have a fifing requirement and be subject to California's franchise tax.
Dividends from a noncontrolled foreign corporation were defined as dividends from foreign subsidiaries of which the U.

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