A foreign corporation is a term used in the United States for an existing corporation that is registered to do business in a state or other jurisdiction other than where it was originally incorporated. A foreign corporation is one incorporated as a domestic corporation in one state of the United States, authorized to do business in additional state(s); the term is also applied to a corporation incorporated outside the United States which is authorized to do business in one or more states of the United States.
To a degree, the same rules apply with respect to a Limited Liability Company (LLC), in that it is a domestic LLC in the state where it is originally chartered, and a foreign LLC everywhere else.
For U.S. federal tax purposes, "foreign corporation" means a corporation which is not created or organized in the United States.
Read more about Foreign Corporation: Federally Chartered Corporations, Purpose of Foreign Corporation Registration, Foreign Corporation Registration Vs. Multiple Domestic Corporations, Change of Jurisdiction, International Equivalent
Famous quotes containing the words foreign and/or corporation:
“When translating one must proceed up to the intranslatable; only then one becomes aware of the foreign nation and the foreign tongue.”
—Johann Wolfgang Von Goethe (1749–1832)
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)