New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
I am a Canadian citizen who is interested in partnering up with someone from the US, to launch an online marketing platform. My partner is going to get the LLC for the company. I was just wondering what would I have to do in order to make things legit and how would I pay for taxes since I am situated in Canada?
Thanks!
Mike,
In the United States, members of an LLC are not required to be U.S. citizens, so forming the LLC with you and your partner listed as the owners would not be a problem in whichever state you decide to register in. (For online businesses, states such as Wyoming and Delaware are commonly the top choices due to their business-friendly statutes).
Once you have the company formed, you would then draft the company’s Operating Agreement, which will specify who owns the company, and what percentage of the profits, responsibility, liabilities, etc. designated to each individual member.
Regarding the taxes, while we are professional incorporators, we are not professional accountants. That being said, I would suggest consulting with a professional accountant who is familiar with taxation of foreign individuals owning assets in the US.
(a) You made a typo in the card number, CCV code, expiration date, name or address;
(b) Your card balance is too low;
(c) Issuing bank has declined this transaction for some other reason related to your account.
