Tax Obligations for Non-Resident/citizens LLC Owners

[Singa]

Hi there,

I’m live in Qatar.

I Willing to open a non-US resident LLC. (in NEW MEXICO OR WYOMING ) I provide online web design services and online freelancing in USA and outside the USA. As my customers
Can be worldwide!
I want to receive all payments in USD from TransferWise.

My question is that how much tax i have to pay by giving the services in USA and outside the USA. I just want to open a TransferWise business bank account.


My transactions will be pretty straight forward, My LLC transferwise bank Account will mainly to receive all my payments from my customers, i will not be adding funds to my transferwise Business bank account, It just will only be a way to receive my payment!

And that's about it!


- So is there will be any US tax obligations whatsoever?

Whether if(personal tax, States taxes, Federal taxes, local taxes, sales taxes... etc)


- Will i need to file any other form than 5472?


___

Thanks for reading looking forward to your answers =)

 

[exprtadvisrdev]

Yes you will need to fill 1120+5472 and about taxes in theory you won't need to pay taxes but it's better to consult a tax advisor there since you will offer services in the US

 

[Singa]

Yes you will need to fill 1120+5472 and about taxes in theory you won't need to pay taxes but it's better to consult a tax advisor there since you will offer services in the m liable to pay taxes on the income generated from US based Client!

And need to file Form 1040NR, so that LLC is tax free and The owner of the LLC is not tax free!

U sure im not liable to pay taxes on the income generated from US based Client!?
What about m,, The owner of the LLC is tax free too?

 

[exprtadvisrdev]

And need to file Form 1040NR, so that LLC is tax free and The owner of the LLC is not tax free!

You don’t need to file 1040NR if you as an individual are not required to pay taxes. Again, talk to a CPA since everything will depend on your specific case.

 

[Fulton Abraham Sanchez]

Hi there,

I’m live in Qatar.

I Willing to open a non-US resident LLC. (in NEW MEXICO OR WYOMING ) I provide online web design services and online freelancing in USA and outside the USA. As my customers
Can be worldwide!
I want to receive all payments in USD from TransferWise.

My question is that how much tax i have to pay by giving the services in USA and outside the USA. I just want to open a TransferWise business bank account.


My transactions will be pretty straight forward, My LLC transferwise bank Account will mainly to receive all my payments from my customers, i will not be adding funds to my transferwise Business bank account, It just will only be a way to receive my payment!

And that's about it!


- So is there will be any US tax obligations whatsoever?

Whether if(personal tax, States taxes, Federal taxes, local taxes, sales taxes... etc)


- Will i need to file any other form than 5472?


___

Thanks for reading looking forward to your answers =)

O, hi. LLCs with one sole member are disregarded entities for the IRS and pay no tax. It is the owner who pay taxes if the source of income in U.S. based. Tax rates start 10% and go up to 37% depending on the level of income. You do need to request a tax ID ITIN and file a NR tax return and pay taxes personally. You only need 5472 IF you receive a loan from LLC or a distribution. Will be glad helping you with LLC formation.

 

[blake]

Hi there,

I’m live in Qatar.

I Willing to open a non-US resident LLC. (in NEW MEXICO OR WYOMING ) I provide online web design services and online freelancing in USA and outside the USA. As my customers
Can be worldwide!
I want to receive all payments in USD from TransferWise.

My question is that how much tax i have to pay by giving the services in USA and outside the USA. I just want to open a TransferWise business bank account.


My transactions will be pretty straight forward, My LLC transferwise bank Account will mainly to receive all my payments from my customers, i will not be adding funds to my transferwise Business bank account, It just will only be a way to receive my payment!

And that's about it!


- So is there will be any US tax obligations whatsoever?

Whether if(personal tax, States taxes, Federal taxes, local taxes, sales taxes... etc)


- Will i need to file any other form than 5472?


___

Thanks for reading looking forward to your answers =)

Hi, consider also the FBAR filing:

A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report:

1. a financial interest in or signature or other authority over at least one financial account located outside the United States if
2. the aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

Report of Foreign Bank and Financial Accounts (FBAR) | Internal Revenue Service

You may be required to report yearly to the IRS foreign bank and financial accounts (FBAR) exceeding certain thresholds.

www.irs.gov

It can be done online in a few minutes