foreign corporation


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Foreign corporation

A corporation conducting business in another country from the one it is chartered in and that abides by the laws of another country. See: Alien corporation.

Foreign Corporation

A corporation that operates in one country but was organized and is based in a different country. Foreign corporations must abide by domestic regulations and business practices, but may (or may not, depending on the specific organization) submit their profits to shareholders in the home country. Many corporations operate in multiple countries, and are considered foreign corporations in each country except the home country. See also: Domestic corporation, International corporation.

foreign corporation

A firm that conducts business in states or countries other than the state or country in which it is incorporated. For example, a firm incorporated in Canada but conducting business throughout North America is considered a foreign corporation in the United States. Compare domestic corporation.

foreign corporation

Any corporation organized under the laws of another state or country. Foreign corporations may sue and be sued in the courts of a state only if they are registered and licensed in that state.Normally,if a foreign corporation does business in a state without registration, it may not use the courts of the state to sue the defaulting party.

Foreign Corporation

A corporation not organized under the laws of one of the states or territories of the United States.
References in periodicals archive ?
The controlling domestic shareholders of a foreign corporation are generally the U.
Active versus inactive Controlled Foreign Corporations--In general, a foreign corporation was considered active if earnings and profits, income taxes, receipts, expenses, distributions of E&P, or certain transactions between the foreign corporation and its subsidiaries or majority shareholder were reported on Form 5471, Information Return of U.
In addition, rules were implemented with respect to transfers to and from foreign corporations to recognize the special status of foreign corporations in which 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.
A foreign corporation will be classified as a PFIC if it satisfies an income test or an asset test.
Any American who owns more than 25 percent of the shares of a passive foreign corporation or any shares in a "U.
corporate tax return of a foreign corporation (Form 1120-F) for the first year
corporation ("first-tier" subsidiaries) and any foreign corporations controlled by a directly-controlled foreign corporation ("second-tier" subsidiaries).
The decision to purchase assets rather than stock of a foreign corporation from the seller should not be reportable.
The Supreme Court called the discrimination in South Central Bell not merely theoretical; the undisputed record showed the average Alabama domestic corporation paid only 20% of the franchise tax it would pay if treated as a foreign corporation.
An expatriated entity is a domestic corporation or partnership with respect to which a foreign corporation is a "surrogate foreign corporation" and any U.
Especially for companies that are continually audited, TEI recommends eliminating individual filings for each controlled foreign corporation (CFC) and substituting a schedule of CFCs containing key information, including the balance in the earnings and profits (E&P) and tax pools.

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