When you are forming a U.S. company, there are some important FAQs (frequently asked questions) you should be asking before you get started:
• Which entity is best to operate in the U.S.? Is it an LLC (limited liability company)? If so, do you know how it is taxed? There are three options for you if outside the U.S. There are several factors that must be discussed, including your gross revenue and net profits, goals with those profits, are partners involved, the tax treaty with your country…
• Should you ever consider doing business in your own name? Operating a business as a sole proprietorship in your name is an option. It is low cost and, in some situations, a good starting point to “test” if your U.S. business will get off the ground. Long-term, there is too much risk with this business structure, and for some industries, too much risk even as a starting point.
• Which state is best for your situation (Nevada, Wyoming, or Delaware)? What are the factors to consider besides state filing fees or state tax rates? Do you know any court history and which one will offer the best liability protection? Which one has the best U.S. economic benefit to your business?
• What are the U.S. tax rules for a corporation vs. an LLC? A corporation may have lower tax rates, but it may not be best for your overall situation. On the other hand, an LLC taxed as a partnership will trigger three U.S. tax returns, which may not be bad overall, but it is something to consider.
• What are the U.S. tax treaties with your home country? Even if there is a tax treaty with your country, is there a type of U.S. entity that may not be recognized in your home country?
• With a U.S. company, will you need a work VISA? Planning to come to the U.S., and now you have a U.S. company, the key is not to mess up at the U.S. borders! If you plan to secure a work VISA in the future, do you know which are the best options at the lowest cost?
The goods news is when you work with NCP as a client, we will address all these FAQs, plus you will have access to our professional resources as needed.
Please take the next step to form a U.S. company with NCP and send us an email at firstname.lastname@example.org or call us at 001-702-367-7373.Tags: U.S. Bank account, U.S. Company, U.S. LLC, U.S. Taxes