COVID Funding Tips for Small Businesses
If you or someone you know is looking to form a U.S. entity for your global e-commerce business, this video will be a big help.
You will want to watch our new video on our process, tools, support, and packages because you will learn what is really involved in the process. The biggest costly mistakes to avoid will be obvious.
If you are still selling on Amazon.com FBA or any e-commerce platform in the U.S. or looking to protect your assets from your home country with a U.S. entity, our U.S. entity formation video will be beneficial.
Here are some of the big reasons you may want to form a U.S. entity:
Perhaps you have been selling in the U.S. and have never collected or remitted sales tax. Although you are hoping it will go away, that is not likely to happen. This is largely due to the June 2018 U.S. Supreme Court Case, Wayfair vs. South Dakota. This case has opened the floodgates for other states to require sales tax collected even if you have no physical presence.
You may have found yourself way behind on sales tax and don’t have the cash flow to catch up and register under your current entity. Perhaps you are considering launching another product or brand and want to diversify your risk. You may want to put that brand and product under a new U.S. company, one that is not so behind on sales tax. This is where we can help.
After the formation, moving forward, our sister brand, SalesTaxSystem.com, will help you with sales tax compliance. You will find if you don’t already know that having a U.S. bank account is very beneficial.
Which leads to this point.
Why having a U.S. Bank Account will Save You Money Each Month with Sales Tax Compliance.
As you know, a foreign seller remitting sales tax is a challenge without a U.S. bank account. This means there is no ability to do an ACH with remitting companies like Taxjar® or Taxify. As well as this, you have to pay a higher fee for a manual return to be filed and pay the states separately for sales tax.
There are two options, form a U.S. company (which has other benefits) or consider our latest option to establish a U.S. bank account. Update: a U.S. bank account can only be set up with a US entity, not a foreign entity.
When selling to the U.S. market, you may have considered forming a U.S. company for all the benefits incorporated. This includes more sales, easier to sell your business, strong U.S. brand, etc…
Click on this link to discover our best U.S. formation packages.