Wyoming, Delaware or New Mexico, please tell me what's your choice?

[sdip]

3. PayPal will close your account when you reach a certain turnover; Stripe will too unless you use Stripe Atlas.

I have been using stripe without problems since 0 hour ago 45 days with payment and withdrawal income, I have spoken with the support and they confirm that I have everything in order, because you say that they will close the account if I do not use Atlas ?. Atlas is only an option but if the LLC is well established with the supporting documents I don't see the problem. can you clarify?

 

[exprtadvisrdev]

there are three methods
1: fax, takes about 2 months
2: Post mail takes about 1 month
3: calling the IRS at the number provided for foreigners, this is immediate.

For the process of the LLC in addition to the registered agent there are sites that do the management for free

Wrong, a foreign owned LLC can not get a EIN by phone. It's only possible by mail and fax (fax is way faster).

 

[sdip]

Wrong, a foreign owned LLC can not get a EIN by phone. It's only possible by mail and fax (fax is way faster).

Screenshot
I have done the whole process of creating my LLC myself, and it took 1 week after watching thousands of videos and reading a lot. I tell you that it is possible to do it by phone here is the number and the attention is in English and Spanish

 

[exprtadvisrdev]

Screenshot
I have done the whole process of creating my LLC myself, and it took 1 week after watching thousands of videos and reading a lot. I tell you that it is possible to do it by phone here is the number and the attention is in English and Spanish

That's a really good new, when I created my LLC a couple of years ago I had to apply by fax because when I called the IRS they told me that I needed to sign my SS-4 and send it to them by fax or mail (took me less than a week to get my EIN by fax if I remember well)

 

[fshore]

I created an LLC at the end of July to use in stripe, I am a foreigner, non-resident, I obtained the EIN and I am receiving payments in stripe without problems, I make the transfers to payonner and use my mastercard wherever I want. It is not to confront, I just want to clarify that what you are saying is wrong from my position. regards

This was always the case, but they would normally close the account after a while when they review it. Even when support says it ok, those are not the same people that work in compliance.
Good for you if it work, but I wouldn't get too dependent on the account.
Please report back after a couple of months more, and after you've done some volume.

 

[sdip]

This was always the case, but they would normally close the account after a while when they review it. Even when support says it ok, those are not the same people that work in compliance.
Good for you if it work, but I wouldn't get too dependent on the account.
Please report back after a couple of months more, and after you've done some volume.

I will report. regards

 

[fashionistagirl]

Wyoming LLC to start out and then switch to a Delaware Inc when you're ready.

Though if I knew then what I know now I never would've opened in the US to begin with. The taxes are INSANE. Thank God I found out about the BVI otherwise I don't know where I'd be. See if you can achieve your goals by opening up overseas.

 

[CaptK]

Wyoming LLC to start out and then switch to a Delaware Inc when you're ready.

Though if I knew then what I know now I never would've opened in the US to begin with. The taxes are INSANE. Thank God I found out about the BVI otherwise I don't know where I'd be. See if you can achieve your goals by opening up overseas.

Its a great tool for set up and credibility when dealing with international clients. Like you said if you can mirror it somewhere else after once you have traction. Also a fantastic tool for anonymity.

 

[Btraveler]

LLCs are very similar across the states because they typically inherit from the federal legislation. That said, there are minor, but sometimes quite impactful differences.

1. Delaware - stands out with the best range of services aimed at non-residents. But the state is known as a tax planning whorehouse which can damage your rep., depending on where and how you do business.

Consider if:
- You want a business account with a high street bank in the U.S. but can't travel yourself. Streamlined and very professional remote PoA account opening services available online.
- You want to incorporate as INC to engage outside stakeholders/investors. A Delaware inc is a well-known and widely accepted vehicle among venture capitalists.

2. Wyoming - Semi-known tax planning whorehouse with fewer services available. Particularly lacks professional lawyers who open business bank accounts to non-residents under PoA. Stands out positively in single member LLC liability protections.

Consider if:
- You are a single member pass-through LLC and want the best liability protection available.

3. New Mexico - Just don't see the point. Low price?

Consider if:
- You're broke to a point where every dollar counts.
- Mass incorporation. You're in need 100+ LLCs and the cost starts to play a bigger role.

I'll add in one more interesting option not many people consider.

4. New York - The opposite reputation of Delaware. Oozes compliance, thick bueraucracy, and heavy tax. Depending on where and how you do business, this can be beneficial.

Consider if:
- You want the very best LLC reputation dollars can buy in the U.S. In effect, it's tax exempt after a certain point for the non-resident beneficiary, just like Delaware, assuming that you don't have ECI, FDAP from the state of New York or the U.S. Extra state fees and other costs could anyhow add up to another $5K a year in extreme cases, but it's a price well worth it for sharing a bed with a good girl.

Good luck utilizing the U.S., and don't forget that the annual filing obligations should be taken seriously in the U.S.

Great post

 

[CaptK]

Its a question with no answer. The official answer is that it is funds sourced from the US as the service provider is in the US (tax applicable). But of course the products or service is not US based nor US customers ( non taxable).

Unfortunately its an argument that may arise if someone has had a bad day and wants to take it out on you.

A good CPA will guide you through what you need to have ready when they ask.

 

[fshore]

Great insights. LLC is a great start indeed.. however they are a bit confusing when it comes to « services » and taxes... Even a US based CPA couldn’t give me a clear response..

Non resident, pass through entity generating leads outside of the US for different clients but the monthly payment is made via their US company....
Will the profit be taxed or not ?

it would be great to hear thoughts of people who are/were in the same situation.

When the llc is disregarded the (federal) tax situation is the same as if you receive the income directly as if the llc didn't exist.

 

[JustAnotherNomad]

I think there is one exception from this, which is when the LLC is owned by a corporate entity. Then there may be branch office tax. But I have to admit I didn’t understand all the details.

 

[fshore]

I think there is one exception from this, which is when the LLC is owned by a corporate entity. Then there may be branch office tax. But I have to admit I didn’t understand all the details.

The branch tax is if the foreign corporation is taxable on the sales.

 

[JustAnotherNomad]

How is that determined? If there is no nexus, there’s never any branch tax?

 

[fshore]

How is that determined? If there is no nexus, there’s never any branch tax?

Nexus is a state tax term. For federal they use ECI, effectively connected income.

 

[JustAnotherNomad]

So with no ECI, no branch office tax?
But still a bit more reporting requirements than if the LLC member was an individual?

 

[Wallywahl]

Hi, there. I moved my entities from Nevada to Wyoming because Wyomingtaxes are far less invasive. BTW I have two Wyoming shelf LLC's that I wish to part with. Any suggestions

 

[blockchain4ever]

Doesn't the compliance costs (accounting, forms) dwarf the registration and franchise fees discussed in this thread?

 

[JustAnotherNomad]

Doesn't the compliance costs (accounting, forms) dwarf the registration and franchise fees discussed in this thread?

No, US LLC’s (treated as disregarded entities) are some of the cheapest entities to run if you’re not a US person. It’s probably $500-1,000 a year all in if you don’t lift a finger yourself.

 

[blockchain4ever]

No, US LLC’s (treated as disregarded entities) are some of the cheapest entities to run if you’re not a US person. It’s probably $500-1,000 a year all in if you don’t lift a finger yourself.

I see the attraction, but just those two forms is a lot more than what a UK ltd (treaty non-resident) requires. With a $25.000 minimum penalty for late filing I feel like the expected cost of such a setup is higher than what you say.