Call Us Now: +1 (877) 330-2677 Live Chat: ONLINE NOW            
https://d25eic0jctudgb.cloudfront.net/images/site/general/answers-to-answers-8743d0241f5d8c2c996225efe2063f89
https://d25eic0jctudgb.cloudfront.net/images/site/headlines/articles.jpg-5fa541d76bf4be9016b1176147b3bc96

Forming a US company with a Canadian citizen

Asked by: eduard - 31 January, 2013
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 I'm a US citizen starting a business in the US with a Canadian citizen, how should we structure our company C corp or LLC. And does my business partner need to obtain a SSN number for tax purposes.
Answered by: Ray Albert - 31 January, 2013
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 Eduard,

It would be no problem for you to register a U.S. company together with a Canadian Citizen. The structure of the company would depend largely on the type of business you would be conducting. Typically, LLC's are often preferred as they are flexible and easier to maintain. We have a research article titled 'LLC vs. Corporation' which offers a side-by-side comparison of the entity types.

Your partner would not need to supply a social security number to form the business or obtain the federal tax id for the business (we can use your number for that matter). If your partner is going to be reporting U.S. income to theIRS, it is likely he will need an ITIN (individual taxpayer identification number). This is always best to consult with a licensed accountant.

We offer a free tax-webinar that addresses many of the common taxation questions of operating a U.S. business, as well as offers resources to accounting and other financial assistance.

Comments:

We Want To Connect With You!

Social Media is increasingly the preferred method for businesses to connect with their clients, peers and customers. We are dedicated to share information and useful tools to help you grow your business.

Like us on Facebook, follow us on Twitter, and let's begin the exchange to Help Grow America One Business at a Time - starting with yours!

https://d25eic0jctudgb.cloudfront.net/images/site/general/payment-methods-footer-052a63251a379d6e5ece1801f07470fc Official PayPal Seal SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment