Definition - What does Domestic Corporation mean?
A domestic corporation is a corporation that conducts its business in the same geographic region where it is incorporated. For example, a company that is incorporated in the state of Maine and also conducts its business in Maine would be a domestic corporation.
Justipedia explains Domestic Corporation
Domestic corporations are essentially just corporations that conduct business where they are located. Whether or not a corporation is domestic can determine how it is taxed. For example, foreign corporations can faces tariffs and taxes that domestic corporations do not pay. Corporations that are domestic in certain regions qualify as foreign in others. For example, an American company is a domestic corporation in America. However, it would be a foreign corporation in France, China, India, Australia, etc.