I just read that considering Panama doesn't have a tax treaty with US, if the owner of a single-member LLC is a resident/citizen of Panama, even if the LLC is not ETOB you still need to pay taxes because of the lack of tax treat between Panama and US, is that correct or complete nonsense?
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LLC in US owned by a single-member resident in Panama, no ETOB but still owning taxes?
- Thread starter ciccino
- Start date
complete nonsense. this is not how it works. tax treaty is mainly to avoid double taxation. Look for taxation on Non-resident aliens on IRS website. Incidentally, we have an article yet to be published that touches upon this, if you are interested i can send you a preview.
I'm just reading this, thank for the answer, I'd be very happy to read your post about it
Also interested, was considering the US LLC but unsure because of all the yearly paperwork and risk of fines for filing late.
can you pm me the articles too please?
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