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.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.
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 sleepWell, 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?
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
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.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?
does anyone have seen this to be put into reality?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.
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.By the way, does anyone know what documents are needed to open bank account with LLC from those states?
Certificate of IncorporationBy the way, does anyone know what documents are needed to open bank account with LLC from those states?
Anybody got his/her EIN lately? Sent fax for my LLC on 30 August (non resident alien) and still waiting for IRS response.
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.What? Does it really take this long??
It seems so.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.
Yes, tax year is the same as the calendarIt seems so.
By the way, if I chose to incorporate a new company in January 2021, does that mean that the first time I have to file form 5472 and 1120, it will be in April 2022?
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?Yes, tax year is the same as the calendar
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.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.
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?
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