What type of corporation operates in the state where it was granted a charter?

A domestic corporation refers to a corporation that is established and operates within the state where it received its charter. The charter is the official document that provides the company with legal recognition, allowing it to conduct business according to the laws of that specific state. By contrast, a foreign corporation is one that is incorporated in a different state than where it is doing business. The terms public and private corporations refer to the nature of ownership and the availability of stock to the public, rather than the state of incorporation. Thus, the classification as a domestic corporation accurately describes an organization operating in its charter state.