New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
hi,
I am a Canadian own Canadian inc company. i want to open a franchise in US. what can i do for that. please help me.
Suresh,
There are several ways you can organize your Canadian franchise in the US:
1) You can register a Foreign Entity of your Canadian company in one of the states,
2) You can register a new entity (corporation or LLC) in any of the states, listing your Canadian company as the owner, or
3) You can register a new entity in any of the state listing yourself as the owner.
Third option would probably be the simplest one, but you need to understand the tax implication of each of the options (for that we recommend consulting an accountant).
Technically, with the third option you can register your LLC in one of the friendlier states, such as Wyoming or Delaware, and then obtain EIN for this entity listing yourself as the responsible party. Later, when its time to file taxes, your accountant will be able to help you obtaining ITIN (individual tax ID number), which allows you to file Federal tax return.
(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.
