domestic corporation

(redirected from Domestic Corporations)

Domestic corporation

A corporation that is conducting business and is based in the country in which it is established, as opposed to a foreign corporation.

Domestic Corporation

A corporation that operates in the country in which it was organized and is based. Like all corporations, it must abide by domestic regulations and business practices. Many corporations operate in multiple countries, and are considered domestic corporations only in the home country. See also: Foreign corporation, International corporation.

domestic corporation

A firm incorporated under the laws of the country or state in which it does business. For example, a firm incorporated in the United States is considered a domestic corporation in the U.S. but a foreign corporation elsewhere. Compare foreign corporation.
References in periodicals archive ?
The possibility of making amendments to the Philippine Cooperative Code of 2007 was raised after a Bureau of Internal Revenue (BIR) official told a Senate committee hearing that she had seen domestic corporations shifting to become cooperatives but still behaving as the former.
9796) that treat such entities as domestic corporations rather than as disregarded entities for purposes of the reporting requirements under Sec.
Although foreign-controlled domestic corporations made up just more than 1 percent of all corporate federal income tax returns filed for tax year 2012, they accounted for about 16 percent of all corporate receipts ($4.
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.
On February 18, 1997, he purchased securities issued by domestic corporations, totaling $1,399,775, which satisfied the requirement of section 1042(c)(4) as "qualified replacement property.
s highly complex tax structure places domestic corporations at a disadvantage to foreign competitors, and that an uncompetitive tax system in today's global economy carries greater consequences than ever before.
Both foreign and domestic corporations receive our tax dollars.
This venture is designed to tap into the newly deregulated business and burgeoning development climate in Mexico, and to service he growing number of domestic corporations with property management, leasing and development requirements south of the border and in South America.
In the first quarter, net dividend payments of domestic corporations increased, in large part because dividends paid by the rest of the world, most of which are received by domestic corporations, declined.
disregarded entities owned by foreign persons would be treated as domestic corporations under regulations proposed by the IRS (REG-127199-15).