Quote:
Originally Posted by ManyQuestionsGuy
Some of the webcam sites that are located in USA require the models that perform on their pages to fill out US Tax forms, yet the non USA based ones only require the models to fill out a release form. I believe if you are USA based you have to pay a 3rd party to hold records for you. These records include proof of age of the models you are working with. Most porno movies, and reputable USA based webcam sites provide you the name and address of the business holding their records. Reasons like these persuade me to go offshore, and since the minority of the owners will be living in USA (me), and the rest offshore, it should be ok with uncle sam (after I pay some income tax of course)
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Sure... if US based, a corp would be obliged to follow US laws and comply with tax requirements etc.
Tho offshore may have an appeal (and sure there are many advantages) - because you are a US citizen this makes the issue more complex (it's very much an exception in that there are only around four countries which have this problem with citizens involved in offshore - unfortunately the US is one).
If you have an interest in an OS corp, there is a requirement to file with the IRS and notify of this interest. (Again.. there are exclusions, but you need to check with a tax lawyer on this). The fact that there are filings needed means eg that privacy privileges of that OS corp will not exist and, to a degree diminishes the benefit of the OS corp.
Only me - but would not dream of not complying with 2257 if this involves affiliates. You certainly would need to cover the asses of affiliates who may sign up from the US (as well as others who operate or have hosting within the US). In addition, if you are a US citizen, this just opens more doors to having problems where you are associated with a corp which may possibly violate US domestic law.