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 ?
tax planning opportunities, it can also create pitfalls for taxpayers that inadvertently establish unfavorable accounting methods for their foreign corporations.
Persons With Respect to Certain Foreign Corporations.
This exemption is justified for foreign corporations owned by foreign persons.
Foreign corporations in the finance, insurance, real estate, and rental and leasing sector held 42.
subsidiaries, so that foreign corporations can control the timing and the impact of the second-level tax.
Form 926--Return by a US Transferor of Property to a Foreign Corporation
corporate shareholder (4) of a controlled foreign corporation (CFC) (5) can elect to deduct 85 percent of the cash dividends received from such CFC during the taxable year, (6) resulting in an effective corporate income tax rate of just 5.
If a foreign corporation (established in a qualifying jurisdiction that met a number of requirements) elected FSC treatment, a portion of the income earned from export sales was exempt from U.
This act was introduced because many foreign corporations predominantly engaged in the conduct of active business operations currently are characterized as PFICs based on the asset test under the current PFIC rules.
The book income adjustment is an important concern for foreign corporations.

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