domestic corporation

domestic corporation
Domestic and foreign corporations.
With reference to the laws and the courts of any given state, a "domestic" corporation is one created by, or organized under, the laws of that state; a "foreign" corporation is one created by or under the laws of another state, government, or country.
See also
+ domestic corporation
When a corporation is organized and chartered in a particular state, it is considered a domestic corporation of that state. Term is used in contrast to foreign corporation which has been incorporated in another state, territory or country.
For tax purposes, a corporation created or organized in the U.S. or under the law of the U.S. or any state or territory. I.R.C. No. 7701(a)(4)
+ foreign corporation
A corporation doing business in one state though chartered or incorporated in another state is a foreign corporation as to the first state, and, as such, is required to consent to certain conditions and restrictions in order to do business in such first state. Rev. Model Bus. Corp. Act No. 1.40.
Under federal tax laws, a foreign corporation is one which is not organized under the laws of one of the states or territories of the United States. I.R.C. No. 7701(a)(5).
Service of process on foreign corporations is governed by Fed.R.Civil P. 4.
See also corporation

Black's law dictionary. . 1990.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • domestic corporation — Domestic and foreign corporations. With reference to the laws and the courts of any given state, a domestic corporation is one created by, or organized under, the laws of that state; a foreign corporation is one created by or under the laws of… …   Black's law dictionary

  • Domestic Corporation — A company that conducts its affairs in its home country. A domestic corporation is often taxed differently than a foreign corporation, and may be required to pay duties or fees on the importation of its products. Typically, a domestic corporation …   Investment dictionary

  • domestic corporation — A term contrasting with foreign corporation, meaning a corporation of the state, that is, a corporation organized and created under the laws of the state. Sometimes, more elaborately defined by statute as a corporation created by or under the… …   Ballentine's law dictionary

  • 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. Bloomberg Financial Dictionary …   Financial and business terms

  • domestic corporation — A corporation (company) established in the USA under federal or state law …   Accounting dictionary

  • corporation — cor·po·ra·tion /ˌkȯr pə rā shən/ n [Late Latin corporatio, from Latin corporare to form into a body, from corpor corpus body]: an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals… …   Law dictionary

  • domestic and foreign corporations — Domestic and foreign corporations. With reference to the laws and the courts of any given state, a domestic corporation is one created by, or organized under, the laws of that state; a foreign corporation is one created by or under the laws of… …   Black's law dictionary

  • domestic and foreign corporations — Domestic and foreign corporations. With reference to the laws and the courts of any given state, a domestic corporation is one created by, or organized under, the laws of that state; a foreign corporation is one created by or under the laws of… …   Black's law dictionary

  • domestic — do·mes·tic /də mes tik/ adj 1: of or relating to the household or family a domestic servant domestic relations see also family court 2: of, relating to, or originating within …   Law dictionary

  • corporation — An artificial person or legal entity created by or under the authority of the laws of a state. An association of persons created by statute as a legal entity. The law treats the corporation itself as a person which can sue and be sued. The… …   Black's law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”