Tax advantages of Washington LLC for non-US residents
A regular corporation would be subject to Federal Corporate Income Tax and State Corporate Income Tax. These combined rates can be as much as 40% of the Profits. Washington requires most businesses to obtain a license and pay a fee if operating in the state. Please check with the state to make sure your business is complying with the license requirements for your particular activity.
Many times forming a Washington LLC allows you to receive some tax benefits that you cannot receive when you form a full-fledged corporation. It’s important to weight the advantages and disadvantages with someone who you can trust. If you find the process overwhelming, you can hire a filing company to do the job for you. This is a great idea if you are filing out of state, or you find the process overwhelming.
During the course of the fiscal year, the Washington Secretary of State may need to contact you regarding all kinds of different business concerns. You will not be granted corporate status until you provide the name and address of your Washington registered agent. This is a safety net required by the state to ensure that you run a responsible and ethical business in the state.
LLC tax exemption for non-US residents
Since:
(a) Members are not US citizens or resident in USA;
(b) The company does not sell – generate profits in USA.
The LLC will be a 100% tax exempted company, excellent for your worldwide trading. Please note that, nevertheless, and keeping the tax exemption statute, you can always use your LLC to buy any products from the USA.
The minimum requirement to set up a LLC is just One Member and One Manager – same entity can simultaneously take both charges. Both individuals and corporations can be appointed to act as Members and Managers of your LLC. This means that one sole person (you), can be simultaneously the Member and the Manager of the company. No secretary required.
We can incorporate your US LLC at any US State; however, for a general guidance, we will send you the Washington report.
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Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
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Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.