Hi Pros,
How to define the term "foreign corporation" under Ca code section § 25113. Water's-Edge Election?
A foreign corporation means a corporation incorporated outside the United States, such as Japan, UK.
Or
A foreign corporation means a corporation incorporated outside California, such as DE, NV, WA.
Which is correct? If a DE corporation filing as foreign company doing business in CA, with location, expense, employees are all sourced or located in CA, should it file 100W and make a WE election?