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

#161
MichalL said:
All US LLC options doesn't make any sens if you live abroad. You shout raport everything over 50k $ in each ear. You should spend a lot of money for lawyers to file some form nr 12345 and after this IRS know everything about you and can exchange this info with you government. Beside if you will make any mistake in form 136348273 you shoud pay thousands of penalties. LLC is transparent, so you should pay your personal tax and if your gov will find that you didn't pay tax - good luck. I recommended you to use 0% tax onshore structure. Poland is an example - 0% Corporate Tax from 2021 and you don't need to hide anything.
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non-resident owned US LLC is one of the easiest and cheapest one to manage and if is combined with the correct residence then I could say is the best budget one for simple business (around $700 per year). I think that If you are going to spam all the forum with your poland options at least you should not tell others "facts" that are not 100% true.
 
#162
https://globalisationguide.org/us-l...eporting-requirements-for-foreign-owned-llc-s
Basically explaining how to form an LLC yourself if you dont want to use a service provider and which forms to fill etc.
He also has guides to creating an account with Mercury. Pretty well written!

I am thinking about going for a New Mexico LLC as it has lower annual fees and filing fee.

By the way, I know the filing of those two forms are in April but what if the company is formed in November this year and will be profit-free and sale-free until next year - meaning that nothing will be bought or sold by the company in 2020. Does the company need to file those forms anyway?
 
#163
Morrad said:
Well, on the IRS website, it states:

Only member of LLC is an individual - LLC income and expenses are reported on Form 1040 or 1040-SR, Schedule C, E, or F. If you prefer to file as a corporation, Form 8832 must be submitted.

Only member of the LLC is a corporation, income and expenses are reported on the
corporation’s return, usually Form 1120
or Form 1120S.

Most LLCs with more than one member file
a partnership return, Form 1065. If you
would rather file as a corporation, Form
8832 must be submitted. No Form 8832 is needed if filing as a partnership.

So it means you have to report all of your income and expenses but dont pay any taxes if your business is outside the USA, correct?
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More or less, but it is not THAT simple. I would suggest you find a good local Agent who will advise you properly. Paying a few bucks extra and you have good sleep :)
 
#164
Mark Rucken said:
More or less, but it is not THAT simple. I would suggest you find a good local Agent who will advise you properly. Paying a few bucks extra and you have good sleep :)
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True!
I have actually messaged a guy who (among other things) helps non-US residents filing forms for their LLC's.

However, I am wondering... Let's assume one doesn't file the forms properly and actually gets the 25.000 USD fine. If one is not a resident of USA (and lives in Europe like me), what would/could happen if one simply doesn't pay the fine?
 
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#165
Morrad said:
True!
I have actually messaged a guy who (among other things) helps non-US residents filing forms for their LLC's.

However, I am wondering... Let's assume one doesn't file the forms properly and actually gets the 25.000 USD fine. If one is not a resident of USA (and lives in Europe like me), what would/could happen if one simply doesn't pay the fine?
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Well, they could send a notice to your home country and get you in problem. This is just a theory, but it is definitely possible. Also, I would not dare traveling to the US in case you have a pending fine in the US.
 
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#168
Morrad said:
By the way, does anyone know what documents are needed to open bank account with LLC from those states?
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All incorporation documents and your personal docs including a detailed business description. That's what they told me. Not sure if it is a standard reply I got and I can expect to be shitloadet with requirements during the process.
 
#175
Javibs69 said:
Yes, tax year is the same as the calendar
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So every year, the forms shall be filed for the previous calendar year, yes? So for the income of the company in 2020, this shall be filed in April 2021?

By the way, if there are no reportable income, should the LLC still file the forms saying that there was no reportable income?
 
#176
sdip said:
I got it the moment I requested it by international phone, but others have tried and have not been able, it seems that I was lucky.
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Tried, but got message telling me to call again later. Anyway it is JUST for foreign company (8c must be NO) to proceed via phone, so no feasible for US incorporated companies.
 
#177
Tomorrow I will go and setup a New Mexico LLC and setup a transferwise account for this company, I was just wondering, what are other good EMIs to use for a NM LLC ? do we have anyone in the US that will accept foreigners?
 
#178
#180
AdvCash don't work with New Mexico they confirmed to me. Payoneer is impossible to apply for, shitty crap service requires some sort of introducer, out of question, so Bankera is left to try with TW - two accounts at least :)
 
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