Setting up LLC & taxation for non-residents - GoFuckYourself.com

derick · 10-06-2002, 01:24 PM

Well, I plan to setup an LLC in Delaware this week so that I can present a Tax ID and company to Visa... I need some taxation information, I read the paragraph below. Does this mean I won't be paying tax from my website's income?.. I won't be in Delaware but my business address will be a registered agent's address. Or does it mean I will be conducting business in Delaware and will be paying tax????
(I'd prefer to pay tax to Delaware state, because the rate is only 8.7%.. In my country I have to pay around 40%... If I'm taxed in the USA, I won't be taxed in my country)..

"Corporations who are incorporated in Delaware and whose activities are limited to maintaining a statutory corporate office and not conducting business within Delaware, are exempt from filing the Delaware Corporate Income Tax Return under Section 1902(b)(6) of Title 30 of the Delaware Code. "

Theo · 10-06-2002, 01:28 PM

where do you live? there's a chance to pay taxes in both countries

jennycards · 10-06-2002, 01:30 PM

As far as I know you still have to file for FEDERAL income tax.

Theo · 10-06-2002, 01:31 PM

which in fact will be good,you'll give the opportunity to both gov/ments to build hospitals for the sick,schools for the kids and financially support the poor. If you manage to pay taxation in a 3rd country too,then the overall benefit for the society will be huge. Think about it.

Shoplifter · 10-06-2002, 01:34 PM

If your country has a tax treaty with the USA then you will not have to pay taxes both places. Otherwise you will.

In my case it works out for the best, the USA corporate taxes are lower than here and we have a treaty.

Why are you choosing Delaware over Nevada?

KingK7 · 10-06-2002, 01:52 PM

I dont understand what the big deal is...?
Just print out invoices from your local company to this one, make the Nevada / Delaware company have 0 profit.

Jayson · 10-06-2002, 02:40 PM

Quote:

Originally posted by KingK7
I dont understand what the big deal is...?
Just print out invoices from your local company to this one, make the Nevada / Delaware company have 0 profit.

Depending on what country you are in you cant really do that as you get into transfer pricing agreements etc.

The invoices have to be realistic and the US company should make a fair profit for whatever they are doing - if its just a billing front I would thing 2-5% would be a good figure.

On profits, depending on the agreements with your country you will either be taxed in both if there is no tax treaty or if there is you will be taxed in both, but should get a credit for the tax paid in both counties, so basically that means the total tax you pay would be the tax payed in the highest taxed country, but it would be split across two countries.

Unless of course you just dont declare it, which is great until you get caught.

Serge_Oprano · 10-06-2002, 02:49 PM

Quote:

Originally posted by derick
Well, I plan to setup an LLC in Delaware this week so that I can present a Tax ID and company to Visa... I need some taxation information, I read the paragraph below. Does this mean I won't be paying tax from my website's income?.. I won't be in Delaware but my business address will be a registered agent's address. Or does it mean I will be conducting business in Delaware and will be paying tax????
(I'd prefer to pay tax to Delaware state, because the rate is only 8.7%.. In my country I have to pay around 40%... If I'm taxed in the USA, I won't be taxed in my country)..

"Corporations who are incorporated in Delaware and whose activities are limited to maintaining a statutory corporate office and not conducting business within Delaware, are exempt from filing the Delaware Corporate Income Tax Return under Section 1902(b)(6) of Title 30 of the Delaware Code. "

CORPORATE TAX IN fLORIDA IS...zero.

WHY dELAWARE?
ARE YOU AFFRAID OF CORPORATE TAKEOVER?
;-)))

CoolE · 10-06-2002, 08:48 PM

quiet · 10-06-2002, 08:54 PM

according to wsb, it's going to much more complicated than simply setting up a US corp.

from http://gofuckyourself.com/showthread...hreadid=80863:

Quote:

They call it a 'Domicile Establishment Protocol Package', here it is:

November 15, 2002 is the deadline for compliance with Visa?s new IPSP rules concerning all third party billers and their sub-merchants. WSB has been working diligently the past several months developing its strategic plans to conform to the new regulations. In an effort to help our international friends comply, WSB has developed a Domicile Establishment Protocol Package (DEPP). Step by step assistance for international clients to domicile and continue transaction processing without interruption. WSB has been committed strongly to its clients and we sincerely appreciate your business. Please review the requirements and pricing for our assistance with these steps.

Compliance Assistance:

A) Assistance in Establishing a Corporation
B) Assistance in obtaining a Federal Tax ID #
C) Assistance with Occupational License
D) Assistance with opening Business Checking accounts
E) Assistance with filing of appropriate legal documents
F) Recruiting, Interviewing and hire of one employee
______
$3800
__________________________________________________
_

Monthly Continuous Jurisdictional Requirement Compliance:

Dedicated Office Space including but not limited to the following:
Desk Space
Desktop Pentium computer
DSL Internet Access
Own Local direct telephone number with voice mail
Use of all fax, color copiers and laser jet printers
Payroll of employee
Liability insurance coverage
Incidentals (pens, paper, etc?)
$3,000

Pornwolf · 10-06-2002, 09:57 PM

After looking at all the prices quoted to 'help' foreign webmasters setup corporations and maintain them I gotta say there's a ton of folks trying to take you for a ride.

Be careful guys, it doesn't cost that much.

shunga · 10-07-2002, 03:38 AM

Quote:

Originally posted by quiet
according to wsb, it's going to much more complicated than simply setting up a US corp.

We're dependant on the processors definition of "US presence" at this point, and, as you know, CCBill and IBill aren't talking about anything more than a shell. I assume that being exposed to federal taxation in the US is the main issue.

Bear · 10-07-2002, 04:35 AM

Anyone try this?

http://www.incorporate.com/

They cost much less.

I won't corporate in Delaware. I will corporate in Nevada

Jizar II · 10-07-2002, 04:36 AM

Quote:

Originally posted by Bear
Anyone try this?

http://www.incorporate.com/

They cost much less.

I won't corporate in Delaware. I will corporate in Nevada

I have mailed them, but they haven´t replied yet.

Pornwolf · 10-07-2002, 04:41 AM

I know someone that just incorporated a company in Nevada with http://www.corpunited.com . It looks like they are cheaper than incorporate.com too.

cyberpunk · 10-07-2002, 06:48 AM

For those of you looking to do something we're helping a few of the people we know to get set up in the US, the cost will be about 750-1000 to get up
plus 100$ a month. The process is fairly quick and painless.

CyberPunk

TheFLY · 10-07-2002, 06:59 AM

Somebody said that the employee had to be a 1% partner plus a co-signer...

Bear · 10-07-2002, 07:24 AM

cyberpunk, could you tell us more information?

derick · 10-07-2002, 07:35 AM

http://www.start-a-business.com/inc-...-usnonres.html

http://apelles.com/ecommerce/intlmerchants.htm

http://www.nevcorp.com/english4.htm

http://multicards.com/

http://www.digiprovider.com/
http://www.incorporate.com/

http://www.nationalbusinessinc.com/nv_index.html

http://www.greencard-visa.com/settin...businesses.htm

anyone try one of them?

10-06-2002, 01:24 PM	#1
derick Registered User Join Date: Oct 2002 Posts: 8	Setting up LLC & taxation for non-residents Well, I plan to setup an LLC in Delaware this week so that I can present a Tax ID and company to Visa... I need some taxation information, I read the paragraph below. Does this mean I won't be paying tax from my website's income?.. I won't be in Delaware but my business address will be a registered agent's address. Or does it mean I will be conducting business in Delaware and will be paying tax???? (I'd prefer to pay tax to Delaware state, because the rate is only 8.7%.. In my country I have to pay around 40%... If I'm taxed in the USA, I won't be taxed in my country).. "Corporations who are incorporated in Delaware and whose activities are limited to maintaining a statutory corporate office and not conducting business within Delaware, are exempt from filing the Delaware Corporate Income Tax Return under Section 1902(b)(6) of Title 30 of the Delaware Code. "

10-06-2002, 01:30 PM	#3
jennycards Confirmed User Join Date: Feb 2002 Location: European Union Posts: 1,124	As far as I know you still have to file for FEDERAL income tax. __________________ Make Money with true niche programs like Adult ECards - Pantyhose Fetish - Men in Pantyhose

10-06-2002, 08:48 PM	#9
CoolE Confirmed User Join Date: Jul 2002 Location: Canada Posts: 451	Last edited by CoolE; 10-06-2002 at 08:51 PM..

10-06-2002, 09:57 PM	#11
Pornwolf Drunk and Unruly Join Date: Jan 2002 Location: Hollywood Posts: 22,712	After looking at all the prices quoted to 'help' foreign webmasters setup corporations and maintain them I gotta say there's a ton of folks trying to take you for a ride. Be careful guys, it doesn't cost that much. __________________ I've trusted my sites to them for over a decade... Webair, bitches.

10-07-2002, 04:41 AM	#15
Pornwolf Drunk and Unruly Join Date: Jan 2002 Location: Hollywood Posts: 22,712	I know someone that just incorporated a company in Nevada with http://www.corpunited.com . It looks like they are cheaper than incorporate.com too. __________________ I've trusted my sites to them for over a decade... Webair, bitches.

10-06-2002, 01:28 PM	#2
Theo HAL 9000 Industry Role: Join Date: May 2001 Posts: 34,515	where do you live? there's a chance to pay taxes in both countries

10-06-2002, 01:31 PM	#4
Theo HAL 9000 Industry Role: Join Date: May 2001 Posts: 34,515	which in fact will be good,you'll give the opportunity to both gov/ments to build hospitals for the sick,schools for the kids and financially support the poor. If you manage to pay taxation in a 3rd country too,then the overall benefit for the society will be huge. Think about it.

10-06-2002, 01:34 PM	#5
Shoplifter Richest man in Babylon Industry Role: Join Date: Jan 2002 Location: Posts: 10,002 Posts: 5,726	If your country has a tax treaty with the USA then you will not have to pay taxes both places. Otherwise you will. In my case it works out for the best, the USA corporate taxes are lower than here and we have a treaty. Why are you choosing Delaware over Nevada?

10-06-2002, 01:52 PM	#6
KingK7 Confirmed User Join Date: Jun 2002 Posts: 6,372	I dont understand what the big deal is...? Just print out invoices from your local company to this one, make the Nevada / Delaware company have 0 profit.

10-07-2002, 04:35 AM	#13
Bear Confirmed User Join Date: Jul 2001 Posts: 261	Anyone try this? http://www.incorporate.com/ They cost much less. I won't corporate in Delaware. I will corporate in Nevada

10-07-2002, 06:48 AM	#16
cyberpunk Confirmed User Join Date: Feb 2001 Posts: 1,377	For those of you looking to do something we're helping a few of the people we know to get set up in the US, the cost will be about 750-1000 to get up plus 100$ a month. The process is fairly quick and painless. CyberPunk __________________ POST NO ADS!

10-07-2002, 06:59 AM	#17
TheFLY So Fucking Banned Join Date: Jan 2001 Location: http://www.thefly.net/ --- Quit your job and live off steady traffic. Posts: 11,856	Somebody said that the employee had to be a 1% partner plus a co-signer...

10-07-2002, 07:24 AM	#18
Bear Confirmed User Join Date: Jul 2001 Posts: 261	cyberpunk, could you tell us more information?

10-07-2002, 07:35 AM	#19
derick Registered User Join Date: Oct 2002 Posts: 8	http://www.start-a-business.com/inc-...-usnonres.html http://apelles.com/ecommerce/intlmerchants.htm http://www.nevcorp.com/english4.htm http://multicards.com/ http://www.digiprovider.com/ http://www.incorporate.com/ http://www.nationalbusinessinc.com/nv_index.html http://www.greencard-visa.com/settin...businesses.htm anyone try one of them?