Definition of Domestic corporation:
Businesses that are located in a country different from the one where they originated are referred to as foreign corporations. Companies also may be referred to as foreign businesses when they are outside of the state in which they were formed. For example, a corporation that is incorporated in Delaware will be considered as a domestic business in Delaware and as a foreign business in all other states.
Local corporation, formed under the laws of the jurisdiction where it is domiciled.
A domestic corporation is a company that conducts its affairs in its home country. A domestic business is often taxed differently than a non-domestic business and may be required to pay duties or fees on the products it imports. Typically, a domestic corporation can easily conduct business in other states or parts of the country where it has filed its articles of incorporation.
How to use Domestic corporation in a sentence?
- Corporations also may be deemed foreign outside of the state where they were incorporated.
- Businesses that are located in a country different from the one where they originated are referred to as foreign corporations.
- A domestic corporation conducts its affairs in its home country or state.
Meaning of Domestic corporation & Domestic corporation Definition