I miss xzars / tax cow. He gave valuable insight and had a great sense of humor. Hope he is alive
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Wyoming, Delaware or New Mexico, please tell me what's your choice?
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I miss xzars / tax cow. He gave valuable insight and had a great sense of humor. Hope he is alive
long time since he was only here the lat, you may have tagged him - oh I see not possible!I miss xzars / tax cow. He gave valuable insight and had a great sense of humor. Hope he is alive
would go for a mix with New Mexico and Wyoming!
This
https://www.offshorecorptalk.com/th...e-tell-me-whats-your-choice.30134/post-140511seemed like one of the best replies about pros and cons of those famous LLCs. I have found 4 comparison images on the web (to be handled with care I guess!), which I have compiled into this:
Some questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
I appreciate any further inputs. @Tax Cow @starfleetio
https://www.offshorecorptalk.com/th...e-tell-me-whats-your-choice.30134/post-140511seemed like one of the best replies about pros and cons of those famous LLCs. I have found 4 comparison images on the web (to be handled with care I guess!), which I have compiled into this:
Some questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
I appreciate any further inputs. @Tax Cow @starfleetio
Attachments
I wanted to tag @startfleetio but I misspelled the name and now I can't edit that post anymore.
For the record, I collated from the four similar tables at these links
https://www.quora.com/What’s-the-di...est-choice-for-a-German-Berlin-based-start-up
https://origin-x.legal/incorporate-delaware-wyoming-llc/
https://external-preview.redd.it/KZ...bp&s=7c2218912488bdd2957d81c60f1930168e3aec47
https://img1.wsimg.com/blobby/go/90...s/BEST ANONYMITY STATES.png?ver=1620582154934
For the record, I collated from the four similar tables at these links
https://www.quora.com/What’s-the-di...est-choice-for-a-German-Berlin-based-start-up
https://origin-x.legal/incorporate-delaware-wyoming-llc/
https://external-preview.redd.it/KZ...bp&s=7c2218912488bdd2957d81c60f1930168e3aec47
https://img1.wsimg.com/blobby/go/90...s/BEST ANONYMITY STATES.png?ver=1620582154934
Very nice compilation.
We actually wrote one too. You can read it at
https://startfleet.io/guide/best-us-states-for-foreigners-to-form-an-llc
@Asterion
Just realized I didn't answer your questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
If you do not trigger state nexus 1B and 1C do not apply to you. 1A is actually Delaware's version of Annual Report Fee, which is collected by other states. The Franchise tax for DE LLC is $300 every year.
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
You got 2D 2E wrong, it is not listed in DE state records.
As for 2G, i honestly don't know the question to this. but I assume both states could be possible.
Form 5472 will expose you anyway to the IRS, if your sole objective is to run away from IRS, its pretty impossible.
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
No it is not an extra year. It is because Delaware has a fixed date for annual report (franchise tax) for all LLCs, regardless when you are registered. But for Wyoming LLCs, your annual report is due at the month next year of your formation month. e.g. you registered an LLC on 15th of June 2022, your annual report deadline is 1st of June 2023
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
Forget about Nevada. Just pick Wyoming unless you want to convert your LLC to a C-Corporation to raise VC investments, then you pick Delaware.
Just realized I didn't answer your questions:
1. What about those taxes Delaware seems to have (1-A to 1-C)? Do they not apply to Non-Resident Aliens?
If you do not trigger state nexus 1B and 1C do not apply to you. 1A is actually Delaware's version of Annual Report Fee, which is collected by other states. The Franchise tax for DE LLC is $300 every year.
2. Wyoming seems to give you more privacy, sharing less than Delaware with the respective state authorities (2-D to 2-G). Isn't 2-F given away by form 5472 in any case?
You got 2D 2E wrong, it is not listed in DE state records.
As for 2G, i honestly don't know the question to this. but I assume both states could be possible.
Form 5472 will expose you anyway to the IRS, if your sole objective is to run away from IRS, its pretty impossible.
3. Was probably bad wording from one of the sources, but Wyoming seems to give you an extra year of proper privacy (3-A and 3-B)?
No it is not an extra year. It is because Delaware has a fixed date for annual report (franchise tax) for all LLCs, regardless when you are registered. But for Wyoming LLCs, your annual report is due at the month next year of your formation month. e.g. you registered an LLC on 15th of June 2022, your annual report deadline is 1st of June 2023
4. The 3 of the 4 sources used had Nevada too, and 5-D seemed to put both DE and WY in a bette rplace than Nevada. But by many accounts, WY is still far from great about getting somebody to open a bank account for you as a NRA...
Forget about Nevada. Just pick Wyoming unless you want to convert your LLC to a C-Corporation to raise VC investments, then you pick Delaware.
I have an Wyoming entity which I registered a few years ago, has been working well and without tax issues together with mercury bank.
Yep Wyoming is the de facto state for all non-us residents
Why do you say that if I may ask? I would like to know what make it better compared to Delaware?
I disagree, there are differences, New Mexico is the best for privacy and it's also cheaper than Delaware/Wyoming.
If you ask me this question, my answer properly is Delaware. Why?
First, there is no company tax on money earned outside of the United States.
Second, fast and very easy incorporation procedure.
Third, financial reporting and audits are not required.
And it’s not just ended here. Delaware can be called ‘tax heaven’ for non-residents.
First, there is no company tax on money earned outside of the United States.
Second, fast and very easy incorporation procedure.
Third, financial reporting and audits are not required.
And it’s not just ended here. Delaware can be called ‘tax heaven’ for non-residents.
For all the US experts in this thread! What are your thoughts for 2024 and forward, for me it is simple the US will keep providing Delaware, New Mexico and Wyoming as the offshoe havens they are! Why? because they need them to get the money floating from all the other offshore jurisdictions which get shut down into the US!
for the annual report (you report assets owned by the company) in Wyoming in case of foreign owned entity you can just fill empty raport and its okay I saw many entites do so. It's no big deal.
how can you see it?
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