Question: How to set up a single member LLC from overseas, LOW cost online services for set up and filing.

[SmartestSmarty]

Hello all,

I wish to find a company that will assist me to set up a US single member LLC, as a non-resident.

I require a service that will set up and file any necessary documents each year. I can keep the accounting myself as it's relatively simple: royalty income and advertising expenses (although I do not know if I even have to, as the company will not be taxed in the US).

Please provide any recommendations for which state to incorporate in, and service providers.

Thanks.

 

[JustAnotherNomad]

Cheapest option:
Use a registered agent like Incfile or Northwest Registered Agent. Use a referral code, that typically brings the cost down.
Then you find an accountant to handle the annual paperwork for you.
You can also do it yourself, it's supposed to be rather simple:

Yearly Filing & Compliance Requirements - Globalization Guide

"What documents do I have to file for my LLC" is one of the questions that we hear the most. This article will focus on and discuss the yearly filing

globalisationguide.org

You can also contact them if they can do it. Otherwise I would just google - it shouldn't be more than $500 per year.

If you have royalty income, you really have to make sure you understand the rules to avoid 30% tax in the US:

Best country for with territorial tax only and a double taxation agreement with the IRS - for Royalties Accrued in USA.

Hello all, Essentially I would like to structure a company that receives Royalties from the US, so it has to have a double taxation agreement with the IRS so there is no WHT in the USA. Then when these royalties are received, as they are from outside the territory, they are again not taxed...

www.offshorecorptalk.com

 

[EliasIT]

If you have royalty income, you really have to make sure you understand the rules to avoid 30% tax in the US:

Best country for with territorial tax only and a double taxation agreement with the IRS - for Royalties Accrued in USA.

Hello all, Essentially I would like to structure a company that receives Royalties from the US, so it has to have a double taxation agreement with the IRS so there is no WHT in the USA. Then when these royalties are received, as they are from outside the territory, they are again not taxed...

www.offshorecorptalk.com

Do you know how to get around it and what to pay attention to ?

 

[SmartestSmarty]

Do you know how to get around it and what to pay attention to ?

The withholding tax depends on which country you are resident, and the agreement of that country with the USA. In some cases there is 0 WHT.

 

[SmartestSmarty]

When reporting income earned from the single member US LLC to the IRS, does any one know, if there will be tax to pay on income earned from sources outside of the USA?

I was told all US income will not be, but potentially income from outside of the US passing through the US LLC may be taxed. Its this true?

 

[SmartestSmarty]

Does anyone know?

If I set up a single member LLC (disregarded entity) as a tax resident of the UK, and a non-US citizen, is all income (US and foreign sourced) disregarded for corporation tax at the Wyoming state level, and IRS?

More specifically foreign source income from UK and EU.

 

[Sols]

If I set up a single member LLC (disregarded entity) as a tax resident of the UK, and a non-US citizen, is all income (US and foreign sourced) disregarded for corporation tax at the Wyoming state level, and IRS?

Normally, yes. In your particular case? Hard to say without knowing all the details.

More specifically foreign source income from UK and EU.

The US LLC is tax resident in the UK and has to pay UK tax like a UK LTD (UK considers US LLCs opaque).

 

[SmartestSmarty]

Normally, yes. In your particular case? Hard to say without knowing all the details.


The US LLC is tax resident in the UK and has to pay UK tax like a UK LTD (UK considers US LLCs opaque).

Thanks, I know the company will be taxed wherever I am resident/manage it from. But what I am keen to understand, is on the US side, if the income from outside of the US is potentially taxed there by either the state or the IRS. Hopefully the answer is NO.

 

[Sols]

Thanks, I know the company will be taxed wherever I am resident/manage it from. But what I am keen to understand, is on the US side, if the income from outside of the US is potentially taxed there by either the state or the IRS. Hopefully the answer is NO.

Provided you don't have customers, suppliers, and/or a physical presence in the US, it's unlikely that the IRS or the state of Wyoming would seek to tax you.