New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
Hello,
I am wondering if a partnership in Canada can register/own a LLC in the U.S. for online business purposes? The idea being is that all profits from the U.S. LLC will be distributed to the Canadian partnership as a pass-through and taxes are filed/paid for members of the partnership in Canada?
Thanks!
Anthony,
Yes, a Canadian partnership can own a US LLC. Ownership however does not control if tax is due on US operations of the business. You will need to consider US taxation of non-residents aliens and if the profits earned in the US are what is known as income effectively connected to operation of a US business.
It is not uncommon for an online business to avoid US taxation, but there are a number of specific factors that are unique to every business which you will have to consider. A US based tax professional can help you with that determination.
(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.
