Nevada LLC or Corp, Taxes? - GoFuckYourself.com

eisbaer · 10-18-2002, 04:43 AM

Hi,

does anybody has some information for me (Websites, books, companys who incorporate) according forming a Corporation or a LLC in Nevada.
What are the differences, how and where am I being taxed (as I read a LLC isn't taxed on entitiy level only the owner is taxed)...

Any hints, infos, etc. are greatly appreciated.

Thanks
Frank

Master_Yoba · 10-18-2002, 04:49 AM

offshore corp is much better (no taxes and 2.5% chargeback level)

tree · 10-18-2002, 04:53 AM

im more interested in nevada's new weed laws...i may be moving there

Chris R · 10-18-2002, 05:10 AM

I am not looking any of this up - so take it for what it is worth.

There are two major types of corporations in the US:

C

and

S

An LLC is very similat to an S corp.

However - you can have an LLC if you are not a us citizen.

So your choices are C Corp or LLC.

In a C Corp - you have to pay taxes on the companies income. This starts at 15% up to $50,000.

States have taxes too, but a few don't - like nevada. So you would only be paying federal income tax.

In an LLC or S Corp - the money "flows through" to the owner(s) - so the COMPANY pays ZERO taxes, but YOU would pay taxes personally. You can still leave money in your business bank account - it is just all the profits are distributed to the owners that year - whether you take them or not.

As you are not a US Citizen, you PROBABLY would pay tax in your country for the income and then file something with the IRS saying "I am from country xyz - I paid them taxes on X amount of money - therefore I owe you nothing".

You should TALK to an accountant in NEVADA if you want to do this. Books are good, but they really don't tell you everything you need to know. They could get it all set up for you as well.

Good luck

Master_Yoba · 10-18-2002, 06:06 AM

Quote:

Originally posted by eisbaer
Hi,

Any hints, infos, etc. are greatly appreciated.

Thanks
Frank

just keep in mind this http://www.ynotmasters.com/news/ynew...702/page4.html

eisbaer · 10-18-2002, 06:25 AM

Quote:

Originally posted by Master_Yoba
offshore corp is much better (no taxes and 2.5% chargeback level)

can you give me some more information about this? Who does your billing and where do you incorporate? You can drop my a mail at [email protected]

Thanks a lot in advance.
Frank

eroswebmaster · 10-18-2002, 07:52 AM

Quote:

Originally posted by tree
im more interested in nevada's new weed laws...i may be moving there

They are not new yet...hasn't been voted on.
My prediction...it will fail.

But right now possession is just a ticketed crime here anyway...only like on the 4th time you get caught is there the possibility of jail time.

10-18-2002, 04:43 AM	#1
eisbaer Confirmed User Join Date: Aug 2002 Location: Switzerland, France... Posts: 184	Nevada LLC or Corp, Taxes? Hi, does anybody has some information for me (Websites, books, companys who incorporate) according forming a Corporation or a LLC in Nevada. What are the differences, how and where am I being taxed (as I read a LLC isn't taxed on entitiy level only the owner is taxed)... Any hints, infos, etc. are greatly appreciated. Thanks Frank

10-18-2002, 04:49 AM	#2
Master_Yoba Confirmed User Join Date: Jul 2002 Location: Dagobah Posts: 1,273	offshore corp is much better (no taxes and 2.5% chargeback level) __________________ WATCH MORE PORN

10-18-2002, 04:53 AM	#3
tree Confirmed User Join Date: Nov 2001 Posts: 1,601	im more interested in nevada's new weed laws...i may be moving there

10-18-2002, 05:10 AM	#4
Chris R Confirmed User Join Date: May 2001 Location: Baltimore, MD USA Posts: 1,151	I am not looking any of this up - so take it for what it is worth. There are two major types of corporations in the US: C and S An LLC is very similat to an S corp. However - you can have an LLC if you are not a us citizen. So your choices are C Corp or LLC. In a C Corp - you have to pay taxes on the companies income. This starts at 15% up to $50,000. States have taxes too, but a few don't - like nevada. So you would only be paying federal income tax. In an LLC or S Corp - the money "flows through" to the owner(s) - so the COMPANY pays ZERO taxes, but YOU would pay taxes personally. You can still leave money in your business bank account - it is just all the profits are distributed to the owners that year - whether you take them or not. As you are not a US Citizen, you PROBABLY would pay tax in your country for the income and then file something with the IRS saying "I am from country xyz - I paid them taxes on X amount of money - therefore I owe you nothing". You should TALK to an accountant in NEVADA if you want to do this. Books are good, but they really don't tell you everything you need to know. They could get it all set up for you as well. Good luck