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Great question @indigoocean. In the U.S. corporations are created under state law. Usually a corporation formed elsewhere is required by each state to register in order to be recognized within that state.

In this context, the term foreign corporation is used to refer to any incorporation arising outside the state. This includes corporations formed under the laws of a different state as well as other nations.

You can read more about this here

Oh, I never knew that they referred to out of state corporations as "foreign." You learn something new every day! Thanks.

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