Incorporating Company in Delaware

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  • ravenazrael
    Confirmed User
    • Nov 2011
    • 590
    #1

    Incorporating Company in Delaware

    Hi guys,
    Me and my partners will launch a site a bit similar to mydirtyhobby but there are a couple of twists. We have decided to incorporate the company in Delaware as there is a minimun tax to pay and no other obligations in the state or the US. I am in Canada and my partners in Asia. It was going to be more difficult to have a company in Asia and in Canada, taxes would be really high.

    As you are more seasoned in this business, what is your take on having a company there versus canada. We have been suggested to incorporate it in the UK too, because there are less issues with charge backs.

    Your two cents?? thanks
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    • CrazyMartin
      Confirmed User
      • Jan 2009
      • 340
      #2
      even if you have LLC company in delaware you have to pay taxes in your country
      LLC company is corporation with the pass-through taxation of a partnership
      its mean that LLC company don't pay any taxes, but shareholders have to pay taxes!

      dealware companies are good only for other companies that are registered in true tax heaven

      its not good for normal persons if they don't want to pay taxes because you will have big trouble

      as i know, when you have any transactions with american companies or persons
      you have to pay taxes in usa and register with IRS
      accounting, and other shit...
      Last edited by CrazyMartin; 08-02-2014, 01:45 PM.

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        • Kingfish
          Confirmed User
          • Sep 2002
          • 668
          #3
          Yeah, most people don't get that incorporating in Delaware, Nevada or wherever doesn't have any advantages. You still pay taxes where you live. To open a bank account in the corporate name in any state you have to register with that State's Secretary of State as a Foreign Corporation which will trigger the same taxes you would have to pay if you just would have registered it there in the first place. Finally you are declaring to the whole world that Delaware is where you want to be sued. So even small claims can be brought against you in Delaware and you have to respond. Incorporate where it is most convenient for you to do business. If your Canadian it is probably some border state.
          Last edited by Kingfish; 08-02-2014, 04:48 PM.

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            • ravenazrael
              Confirmed User
              • Nov 2011
              • 590
              #4
              Thanks for the replies. I am getting different opinions.
              I would like to know if when the Delaware company pays to us(the partners), we are taxed in delaware?
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                • iSpyCams
                  Amateur Gynecologist
                  • May 2009
                  • 4436
                  #5
                  You aren't taxed in Delaware. Just an annual franchise tax. You still have to pay income tax just not to the state of Delaware.
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                    • ravenazrael
                      Confirmed User
                      • Nov 2011
                      • 590
                      #6
                      IF we do not have a bank account in the US does that change the federal taxation in the US?
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                        • iSpyCams
                          Amateur Gynecologist
                          • May 2009
                          • 4436
                          #7
                          Nope. If it's a DE company it's a US company. You will need a EIN from the IRS and you will be expected to file and pay what you owe, no matter where your bank is. And if it's not in the US you will have a hard time getting US billers to pay you there. (not really a hard time, they will just say no) plus you have extra forms to file if you have offshore accounts.
                          - As soon as I think up a good sig it's going here.

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