hi everyone we're trying to scan if you
can either comment directly on this
video or there's also a post in the
group we don't comment directly to that
post and I'll read questions from that
post but it looks like the comments
someone can type the question or a
comment and let's see if that works
otherwise there's a post that I made in
the group as well and you can comment
there too okay
looks like comments are coming in so
we're in good shape
again just to introduce myself my name
is Andrew Gordon I'm an attorney I'm
also a CPA a certified public accountant
in the United States my practice is
based in Chicago
but I have clients all over the world
all over the US and we help people with
both business and advertising legal
needs we form LLC's and corporations for
clients probably every single day or
pretty close to it so we're very
familiar with the different states the
jurisdictions that are available as well
as the tax implications of forming and
operating a business in the US and it
can be quite complex and so often a lot
of people on the internet rush to
websites like Legal Zoom to form an LLC
or a corporation right away but there's
a couple important things that you need
to know before you form and so often it
does make sense to hire an accountant or
an attorney to help you through the
process because if you form it
incorrectly the tax results can be
significant and it could cost you a lot
more to try to fix rather than to set it
up in the first place so why would you
want to open up a business in the United
States well some of the reasons are to
access US customers or you
resources for example to be able to have
a US bank account and to be able to have
US credit card processing sometimes it's
a lot more favorable to your customers
or consumers to be able to have a
us-based credit card processor and they
just prefer to have that and so one of
the easier ways to have that is to have
a us-based business such as an LLC or a
corporation also certain websites
certain shopping platforms require you
to have a u.s. business and a u.s. tax
identification number and in the u.s. of
the tax identification number is known
as a CI n E I n stands for an employer
identification number and it's much like
a social security number or a number
that would be tied to individuals but
instead it represents your business and
so one of the most common questions that
I'm asked is whether or not you should
form LLC or a corporation in the US and
if you're a non-us person so you don't
live in the u.s. you're not a citizen in
the u.s. you have no connections to the
US but you want to do business in the US
is it best to form an LLC or a
corporation and it depends but the
biggest effect will be on taxes LLC's
have a better overall tax rate than
corporations but corporations will have
less tax filing requirements for you as
a foreign person so let's talk a little
bit about LLC's are known as
pass-through businesses which means that
they don't actually pay taxes the owners
of the business pay taxes and it's just
a one-time it's a single tax on the
income that the LLC makes the owners
would pay tax on and so depending on how
many members or owners of an LLC the LLC
may not file its own tax return it may
just be included on the tax return of
its owner or if it had more than one
owner then it does file its own tax
return but the taxes are paid by the
individual
well what does that mean what am I
talking about when I say individual
owners well that means you as a person
and since you as a person don't live in
the u.s. you're not a US person you
still would need to file a US tax return
if you're an owner of an LLC so I'll say
this again if you own a u.s. LLC then
you need to file a personal tax return
in the United States even though you're
not personally citizen or resident or
anything like that
you still need to file a tax return for
non-residents there's a tax return
called a 1040 and R stands for
non-resident and so you would have filed
that personally to show the income that
your LLC made and then pay taxes on that
income a lot of foreign people don't
like this and don't want to form LLC's
for exactly this reason because it
requires them to provide personal
information and file a personal tax
return but if you don't mind doing that
in the United States then it's a better
tax rate than if you had for example a
corporation and that's because a LLC is
just gonna pay taxes once on its income
and that tax rate will vary and it
depends on the amount of income that you
make so in the u.s. the tax rates
increase as you make more money for an
LLC or for individuals corporations are
different and we'll talk about that next
but for LLC's and individuals your taxes
increase as you make more money but it's
just a general rule of thumb I would say
on average your tax rate will be
somewhere around 3035 percent but again
it'll depend on the amount of income
that you make so LLC's it's taxed once
and it'll depend on the amount of income
that it's taxed but it requires that you
file potentially two tax returns one for
the business if it has more than one
member or owner and then also a personal
tax return for each of the members or
owners
so that's an LLC if anyone has any
questions about LLC's please feel free
to comment and I'll try us to answer
that corporations are probably the most
common way for international people to
form in the US corporations thankfully
the tax rate has gone down over the last
year of attacks right now for
corporations is 21% in the United States
but there are potentially two taxes
you're taxed twice on a corporation your
text once 21% on the income are there
any of the profits and then your text
again when you distribute the profits to
any of the owners so you're taxed on
dividends or salaries again and for
example that you pay out the profit as a
salary then you will get a deduction
against the total amount of income where
you're taxed on that salary to dividends
you'll pay a tax on the dividend and
then you'll pay a tax on profits of the
company so you're taxed twice so say for
example once and 21% on the profit and
then when you distribute that profit
you're taxed at 30% for example so
you're taxed twice why would anyone want
to do this well one of the reasons is
that by having a corporation rather than
an LLC you just file a single tax return
for the corporation and you don't have
to file a personal tax return as a
foreign individual so the corporation
files a tax return but not the
individuals and that minimizes the
amount of tax filings and also the
personal information that you have to
share some corporations for branches of
foreign businesses for example don't
have any profits in the u.s. you may not
actually have any profit or income
connected to the US and so overall if
you don't have any profit the
corporation may be the best approach
because it will reduce the tax filings
that you have
one of the questions I have here is can
you create an import/export company in
the US and what are the process to
follow you can open up any type of
business in the US but depending on the
types of goods that you're importing or
exporting there may be other regulations
and so I would suggest speaking with an
attorney about your specific type of
business to see if there's any customs
or any limitations on the import but
it's very common for example for
e-commerce businesses to manufacture the
products in other countries then ship it
to a warehouse or a fulfillment center
in the US and then have it distributed
from there and that's perfectly legal
and it's fine to do so no problem doing
that one of the questions is what is the
process of getting an LLC in the US I
strongly suggest spend it's just a
little bit extra money to have an
attorney or a professional format rather
than a website like legal zone but
there's a couple main components to an
LLC and it'll depend on the state that
you form the exact forms that you need
so each state has a little bit of
different rules but let's talk about
Delaware for instance which is the most
common state to form in in Delaware the
most important document you need it is
called a certificate of formation and
you can file this with the Delaware
Secretary of State they don't have an
online system so it has to be mailed or
faxed and again I suggest using an
attorney to help you through this
process and in Delaware you can even pay
to have it expedited so that it can be
formed very quickly within a couple days
so the first document is called a
certificate formation the second thing
that you will need is an EIN number from
the IRS and this number is obtained from
the IRS not from Delaware and it can
take a couple days to get but it can
also be possibly obtained instantly and
so the ein is your identification number
for your business with a certificate of
formation and an e
a number often those two documents are
sufficient to open up a bank account but
for corporate formality purposes in
order to document your business
appropriately
you should have other documents as well
one of the other important things to
have is company minutes so initial
company minutes even if the company is
just you you still need you should have
all of these things so minutes you'll
have an initial meeting where the
officers of the directors of the company
will be elected and that will be listed
and so company minutes are also
important also an operating agreement
for an LLC operating agreements spell
out all the the rules how are your
members going to be added how is profits
going to be distributed what are the
rules of your business and that's called
an operating agreement that that would
be in again even if you're one member
you only have one owner you're doing
this all on your own you should still
have an operating agreement because if
there's any litigation if you're in a
lawsuit sued these documents will help
limit your liability and make sure that
the plaintiff can't sue you individually
or go after your personal assets so
having these documents is very important
these main things I would recommend for
any business so make sure that you have
your minutes have an operating agreement
certainly as the certificate of
formation but have an attorney drafted
you can download them online but if you
don't know what it means then it's it's
in many ways useless because those are
the rules for your company and if you
just sign it without understanding it
you may be signing something that you
don't understand or will have negative
results later on let's see which one is
the best for a starter and entrepreneurs
LLC's or corporations and again it's a
good question and there's a number of
different factors one of the most
important is do you intend or do you
expect to have profit in the you
and so everyone says they're gonna have
profit and everyone expects to have it
but is it going to be based in the US
and this is in many ways complex if you
don't have US employees you don't have a
US warehouse you don't have anything at
all going on in the US
you only have a bank account you may not
have any income actually in the US but
if you do have a warehouse you have an
office you have any of these things then
you're going to have some profit in the
US and it's important to understand what
percentage of your overall profit is
based in the US services should be
attributed to your foreign country but
some will be in the u.s. so as a some
starting out on LLC may have a lower tax
rate overall but again they're going to
have other filing requirements a
corporation has a higher tax rate
because of the double taxation but you
don't have to file a personal tax return
so it's a hard question and it really
depends on your individual business but
I'll give you one of the easiest answers
of them all which is that and this is
something that a lot of people don't
know you can actually start as an LLC
and your accountant or whoever prepares
your tax return you can make an election
to have the LLC actually treated as a
corporation so although you start as an
LLC initially at the year-end or before
year end you can change it to be a
corporation so for people that just
aren't sure or after hearing the pros
and cons with both LLC's and
corporations they're not sure which one
to go to by starting with an LLC it's
actually more flexible you can then
switch to a corporation later on the
opposite is not true if you start as a
corporation you can't actually go to an
LLC or it's more difficult to do so so
if you're not sure and you're just
starting out form analyses but again
overall talk to an attorney we offer
free consultations and we'd be happy to
talk to anyone about your specific
business and whether we
can make sense to be a corporation or an
LLC but again it really depends we're
being asked how can we be contacted I'll
post my contact information here as well
you can contact me on Facebook also our
website is Gordon geo rtln law la W Ltd
as in limited com so it's Gordon law Ltd
com
feel free to reach out to me after this
video as well and I'd be happy to answer
any questions so what is the amount or
limit in terms of revenue that you
should obtain to turn from an LLC - it
says anonymous company but I think what
I'll do is I'll just talk about in
general LLC's versus corporations the
question that I was asked is whether you
should switch from an LLC to an
anonymous company and I'll talk a little
bit about being anonymous in the u.s.
next as well but overall if you're going
from an LLC to a corporation again LLC's
have a better tax rate and so you know
there's not necessarily a certain dollar
amount that I'd say absolutely it makes
sense to be an LLC because it depends on
other factors such as what percentage of
the income you can attribute to your
foreign corporation or your foreign
business rather than your US business
but overall if your income is over
50,000 or 100,000 u.s. there is going to
be a tangible difference or a a
quantifiable difference between having
an LLC or a corporation in terms of tax
and so at certain levels we can we can
even provide examples and we can do the
calculations depending on how much
profit you think you're going to have
what the tax rates would be so also
about being anonymous in the United
States each state u.s. we have 50 States
each state has different rules
each state publishes different
information on the owners of the LLC's
and corporations for example states like
California one of the largest states
where a lot of people want to do
business or open offices owners of
California LLC's and corporations are
publicly listed you can actually go
online and you can search for the name
of analysis your corporation and it will
show you who the owners of the
businesses it's all online other states
like Delaware there's no online registry
of ownership all it shows online is
what's called the registered agent which
is a public company or a public address
that can receive lawsuits or official
documents for you but it's not an
address that's specific to you it's an
address that could be used by thousands
and thousands of people can use the same
registered agent so states like Delaware
the ownership management is confidential
there's no public listing states like
California Illinois I believe also New
York and New Jersey
the owners are publicly listed so anyone
can go online see who owns it so with
being anonymous or confidential is
important to you
it's also important to look at the
different states and what is listed
online one of the questions that just
came through too is what state is best
to open now I'll see for example
Delaware or Wyoming Delaware and Wyoming
are two very common choices and often it
really will depend on who you ask but
statistically Delaware is the most
common state to form Delaware has a very
long history of being favorable for
business formation and there's a couple
different reasons why one is that
Delaware has a court system that's
specific for business disputes so if you
have any sort of business lawsuit in
Delaware they have courts and judges
that specifically deal with business
issues in other states you could have a
judge that's dealing with a divorce
one day a contract dispute the same day
or another day a criminal case they may
be dealing with all different cases but
in Delaware they have a specific system
just for business disputes and because
of that there's also now a lot of
history or case law about different
disputes or issues in Delaware so a lot
of people link Delaware because they
know what they're getting into if
there's certain types of issues there
are cases that have already been decided
the court system is is efficient and
strong and so Delaware for that reason
is one of the most common one of the
downsides of Delaware is that they don't
have an online and registration system
so if you want to form an LLC or change
certain things about your LLC you can't
do it online you need to submit it
through paper but even though they
require that they are still very
efficient they can form an LLC you're
gonna pay them extra money but they
could form it as quickly as a day if you
need things done or changed they have
staff call in get things changed so no
online system but it's still very quick
Wyoming shares a lot of these
similarities so ownership is
confidential
it's the fees involved in forming
analyses in both of these states are
very minimal I don't recall it Wyoming
has an online registration system but
the ownership is confidential it's not
publicly listed in general our clients
tend to lean more towards Delaware and
then Wyoming again they're very similar
but Delaware just happens to be the most
common state potential investors in the
future tend to favor Delaware over
Wyoming but over time again these
differences are quite small as a firm we
form most of our allies and corporations
in Delaware we just find it to be the
most efficient but again the two are
very similar so not really big
differences between the two
let's see so one of the question is can
we have a warehouse in the US how does
it work and how can I deliver my product
from there and the short answer is yeah
you certainly can open a US business
have a US warehouse have US employees do
any of those things no problem at all if
you need personally some sort of visa to
travel into the US that will be a
separate issue and I would maybe suggest
even the organizers here to have a
immigration attorney come and talk next
but there's no problem operating a u.s.
business from an another country and
still having a warehouse and any of
those things a fulfillment center in the
US by having that in the u.s. though now
you are what's called effectively
connected to the US and now some of your
profit is based in the US so sometimes
people for example if you have a hundred
thousand dollars of revenue in the US
but you have a company in Morocco and
then you issue an invoice from Morocco
to the US for a hundred thousand dollars
now all the money goes back to Morocco
there's no profit in the US if you don't
have any warehouses you don't have any
offices you've nothing in the US then
there's no income that's connected to
the u.s. you're just operating from
abroad and you just have money flowing
through the US but not connected to the
US then it's possible that you have no
taxes at all but once you start to have
a warehouse you start to have operations
you can't just say you have no profit in
the US and expense everything out
because you do now have parts that are
operating in the US so you'll need an
accountant or some sort of expert to
determine all right of this hundred
thousand for example that I made fifty
thousand is attributed to the US and the
other fifty thousand is expensed for
management services to the company in
Morocco so that's something that you
might have to do but overall it's very
possible to have a warehouse in the US
what a lot of e-commerce companies use
is fulfillment companies so they'll ship
all of their product to a fulfillment
company and then they will warehouse
store and ship the product to your
customers for you see so so offshore
companies yes so you can form a company
so now aside from United States
businesses aside from u.s. tax we form a
lot of corporations for people and
offshore jurisdictions the most popular
is nebith nebith is a zero tax
jurisdiction so there's no taxes that
you pay on having the corporation in
nevus but if you you may still have
taxes in Morocco so you need to talk to
your local accountant or attorney about
what the implications are of owning an
offshore corporation but we as a firm
form offshore companies for people
regularly but it will depend on your
your local taxes as well as to whether
or not you can put all the profit in
that offshore company or whether someone
that needs to be taxed in Morocco
offshore companies one of them you can
form them for example to do business in
the US and then there's some
jurisdictions that are offshore even to
do business in Europe then there are
other options that we look into for
certain clients as well such as Cyprus
if you want to do business in the EU
there are some countries that are more
favorable than others and so it also
depends on where you want to do business
if you want to do business in Asia we
might look at forming in Hong Kong or
Singapore so it depends on a couple
different factors in any of the topics
or any of the different locations that
we talked about today one of the most
difficult parts for you guys is going to
be to obtain banking or to get a bank
account ironically opening a bank
account in the United States is much
easier
opening bank accounts in many of
different countries around the world
this may change over time but for now if
you for example have opened a u.s.
corporation you can open a US bank
account pretty easily even as a foreign
individual but but you have to come to
the u.s. to sign initial paperwork all
the major banks Chase Bank of America
all the major US banks will require that
you come to the u.s. to sign paperwork
so no issue opening the account it's
actually fairly reasonable to do so even
our fees to assist in the process are
fairly reasonable to do so but you will
need to come to the United States to
sign the initial paperwork just to give
you an idea of fees on average to form
an LLC or corporation if you don't
require any guidance from us or any
assistance opening a bank account you
just need us to do all the paperwork it
costs about $2,000 including all the
initial fees so about 2,000 us without
any legal or tax planning just we form
it for you you do the rest
about $2,000 for assistance with bank
account opening to assist with tax
planning and so forth and to open up the
corporation or the LLC it cost about
5,000 u.s. to do that and those are our
fees and also the first year of filing
fees and registration fees to get PayPal
or stripe accounts once you get a US
bank account it's very easy then to link
those to your PayPal or stripe account
also with the US business you'll have
all the identification information you
need to open up a stripe or PayPal or
any of those types of accounts let's see
yeah one of the questions is does the
process of creating an LLC differ from
state to state the answer is
unfortunately yes every state is
different they each have their own rules
and requirements and some of them even
call the formation documents different
things for example Illinois LLC's
articles of organization in the Delaware
it's called certificate of formation so
even just the names of the documents are
very different in different states
and so it can be confusing and sometimes
I've even had clients that formed the
wrong type of business because they
didn't understand the filing forms
meaning they tried to form an LLC and
actually formed a corporation so again
there are websites out there they'll do
it for you like Legal Zoom but my strong
recommendation is spend a few hundred
dollars more have a professional firm
like us help you through it because it
could be very costly to file the wrong
forms let's see one of question is does
an LLC owner a non u.s. resident alien
who drop ships from China have to pay US
taxes so we have a US LLC that's owned
by a non-resident alien and drop ships
from China so if there's no contacts in
the US at all there's no business no
employees I'm sorry there's some there's
a business but there's no office no
employees nothing else there may be no
tax or very little tax attributed to the
US because all of the income is actually
connected with your foreign business and
the US business is just a pass-through
or a payment processor in some instances
and in those cases there may be no tax
at all but if you are warehousing the
products in the US or taking any other
steps then almost certainly you're going
to pay taxes to the extent that you can
dropship though and not have a u.s.
warehousing then it will reduce or
eliminate your US taxes so one of the
other questions is having an LLC company
can it be used for any sort of business
or just the one specified during the
creation of the LLC for example can be
used for import or export of any type of
goods good question so to keep your
corporate documents correct they should
always be they should always specify
things appropri
so if you say on your initial corporate
documents that it's going to be a
specific type of business you should
stay with that or change those documents
because again
from a liability perspective we want to
make sure that if a lawsuit occurs
there's some issue with your product
someone sues for whatever reason that
the they can't reach the owners that's
one of the goals of owning a business
and so we need to make sure the
corporate documents are correct or a
potential plaintiff can try to save that
it wasn't set up properly and that you
should be personally liable so as a
general rule of thumb we want to have
corporate documents correct now how do
we create a business that's flexible
enough that you can have different types
of products or you could change your
mind on the type of business later on
well again one of the reasons why you
should have a professional inform your
company is that we usually include
language under the initial organization
documents that allow for any lawful
business so we leave it very general and
broad on the formation documents so they
it can be flexible so any lawful
business is often what we say there that
way it can be used for different types
of important exports of different types
of goods and again an LLC can legally
import and export different types but
you have to be aware of different
customs or order different laws or
regulations regarding importation of
certain products so again it's fine to
do so generally speaking but you need to
be aware of the different customs and
importation requirements I think one of
the questions is can you open a u.s.
online account can you open a bank
account online in the US I've heard
there are some banks in the u.s. that
maybe you can open online I believe
Shopify or maybe stripe allows to open
one up online but most of the large
major banks all the ones that I'm
familiar with require that you in person
assign the initial documents so the
major banks
Chase Bank of America so forth will
require that you travel to the US for
opening often a lot of international
people want these types of US banks
because they are there they're great
banks they have online and access you
can wire money online and very quickly
they also often have credit card
processing functions as well so you can
get in addition to stripe you can have
other means for credit card processing
that may be even cheaper so often those
banks are preferred by people so is it
possible to open a bank account
virtually online yeah it's very possible
but the major banks the ones that most
people want to use will require that you
come see
so someone asked question about PayPal
demanding information about companies
yeah
PayPal once you reach a certain amount
of sales often they'll require tax or
identification information from you and
this is one of the reasons that people
form US businesses is again you can
obtain a identification number you could
obtain all the necessary information in
order to provide this to PayPal Shopify
stripe and so forth so one of the other
questions is about stripe at lists or
other websites that creates an LLC is
for you again you know the the filing
fees are pretty much the same across
different services and there are
websites that will certainly do it
cheaper than attorneys will do it but on
these websites you need to tell them
specifically what you want so you tell
them I want the Delaware LLC I want this
formed I want this but if you don't know
the requirements are you don't know the
difference is you may be selecting
something that's not appropriate so the
cost of setting it up I would say is it
almost always less than a thousand
dollars difference to have it formed by
a professional versus a website and
while this may sound like a significant
amount it will save you a lot in the
future by having it set up correctly so
it's possible to set up on your own but
we've had many clients that come to us
after forming in this way that need to
then have it fixed so one of the other
questions is every state has its own tax
rate what is the less expensive state
tax so states have a couple different
taxes actually overall doing business in
the u.s. there are many different taxes
that you have to be concerned with
there is income tax and then there's
also sales tax income tax is taxed on
your profit or your income sales tax is
taxed on every sale and unfortunately
ecommerce businesses may have state
sales tax that they have to pay in
different states
this is a very new area of US law and is
developing as we speak where different
states are passing different laws that
affect ecommerce businesses and may
require that they pay taxes in those
states even if they don't have a
business in that state just because
they're shipping into that state so it
will depend so we have state sales tax
and we also have income tax sales tax is
charged depending on the customers in
the States and each state is different
for example if you're doing a business
through Amazon FBA then you may have
state sales tax in certain states if
you're doing business on Shopify and
selling into all states it's possible
that you have to collect sales tax in
many of the states but again this is
developing the laws are changing so talk
to a professional about the different
states that you're shipping into income
tax is again the tax that you pay on any
profits in some states don't have any
income tax at all states like Florida
Nevada they don't have any state tax at
all states like California New York New
Jersey have taxes that can be five to I
think nearly 15% in addition to your
income tax but in general your your
federal income tax but in general to pay
these state income taxes you need to be
based in those states so you need to
have an office or employees or some sort
of operation you don't have any of that
then it's sales tax potentially to worry
about not income tax which again will
vary by state one of the questions is
how much does it cost to have an
accountant file taxes it really depends
on the amount of transactions that you
have but I would say on general a tax
return so not the accounting not the
bookkeeping but just the tax return
probably costs on average about $1,000
the bookkeeping
depends on the number of transactions
you have and so I suggest a lot of
people to use especially when you're
starting out an online service like
QuickBooks Online or zero xer0 com
there goes both cloud-based accounting
platforms they're fairly inexpensive and
they're very easy to use so starting out
right away even though the suggestion
that I have two brand new businesses is
get set up an accounting platform from
day one that way you don't have to go
backwards and try to clean up your books
and records at the end of the year you
started off right from the beginning
reconciling transactions so QuickBooks
Online or zero both great options I'm
just reading what other questions seen
what other questions are there so one of
questions is do bank accounts accept the
digital signature again most of them
will require that you in person sign so
the digital signature won't be
sufficient how long does it take to
create an LLC on average if you pay for
the expedited which doesn't cost very
much more I think it's about a hundred
dollars more we can typically get an LLC
and the ein so the identification number
in about a week and with these two
pieces of information and sufficient to
open a bank account so in a week
possibly even less you could have a bank
account opened and start operating right
away with an LLC corporation also about
the same about a week to have both the
state filing and the paperwork from the
IRS ready to go yes I am a CPA one of
the questions is a my CPA I'm an
attorney I'm also a CPA as well so one
of questions is Delaware a tax free
state so if you form in Delaware they
are not going to charge you and it did
we'll tax there are filing fees that you
have to pay every year but there's not a
state income tax that's charged in
Delaware by just forming in Delaware so
if you're operating from Morocco but you
open a Delaware LLC there's no Delaware
state tax to be charged even if you were
operating in Florida so you open an
office in Florida which is tax free
there's no additional tax in Delaware to
have a Delaware LLC that's operating in
Florida so let's see so one of the
questions is could a business be created
for us stripe if you open a US LLC or a
u.s. corporation
you should have sufficient information
to provide first to stripe for account
opening u.s. residency is different than
citizenship and so this is another
question how does us residency affect
things right now I've been assuming that
all of you are based outside of the US
you're not living in the u.s. you're not
working in the US but if you live in the
US for a certain period of time and
usually it it depends on the amount of
time I believe it's more than six months
but I need to double check that but if
you live a certain amount of time in the
US every year then you can be considered
a US tax resident and have to pay taxes
depending also on different types of
visas if you're on a student visa or
otherwise there are other tax effects on
your u.s. residency but if you stay in
the US a certain amount of time the u.s.
is going to consider you a u.s. tax
resident even if you may not be a
citizen so if you're going to be doing a
lot of travel in the US for example you
open a u.s. business you do want some
employees in the US but then you're
going to visit often in order to just
make sure that things are running
smoothly you should talk to an attorney
about the requirements to make sure
that you don't become a US tax resident
because then you may have other taxes to
pay in the u.s. not only on your US
income but also on income that you
receive outside the US as well so US tax
residency is important to be aware of
and generally speaking it will be
determined by the amount of time that
you spend in the US
one of the questions is can we create a
now I'll see we can create LLC's for
clients we do it every day so feel free
to reach out to me on Facebook or
through our website we'd be happy to
help one of the questions is I live in
North Carolina can you start an LLC in
Delaware no matter where you live you
can form an LLC in Delaware or any state
the state that you live in isn't
necessarily the state that you have to
form your LLC if you live in North
Carolina and you're operating in North
Carolina for instance and you have a
Delaware LLC you may still have to pay
taxes and register your business in
North Carolina because that's where you
live that's where you're operating but
the actual LLC is going to be registered
in Delaware why would you do that well
sometimes people register in Delaware
because again it's flexible has good
courts and so you could be registered in
one state but have your main operations
in another and that's very common as
well some of the biggest corporations in
the world Google Facebook Apple many of
these although they operate in
California they're actually registered
through Delaware corporations so that's
fine they're different things what's the
first step to hire us reach out we'd
send some paperwork and then we can get
it form for you again it takes about a
week to do so see any other questions so
we went through a bunch of information
so far today I know a lot of these
topics can be very complex so again if
you have any questions sometimes it's
also easier to talk on skype or through
the phone happy to answer any questions
talk about your specific business
because again with a little bit of
planning you can minimize or reduce or
eliminate
your US taxes in doing business in the
US it's very common to have a main
office in another countries such as
Morocco and then have a branch in the US
and with some planning though you can
shift the profits to the foreign country
to reduce your taxes okay so again my
website is Gordon law Ltd com I'll post
that as well feel free to reach out I
think that's it for now thank you
everyone that tuned in and thank you
again for everyone for your questions
and what he I really appreciate you
having me I'd be happy to come again
sometime - thanks
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