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View Full Version : Looking for a realiable CPA/accountant in Delaware (for offshore LLC advice)



wawa
03-14-2012, 03:10 PM
Hi all,

As a non resident (originally from Europe), I'm looking to open a company in the US. As i gather offshore LLC in Delaware is the easiest way to go.

To put things short: i will be selling soccer camp licenses in the US and Canada (so the camps over there can use my club's name). I want to set up a company with a bank account that will receive all the payments, make sure all the taxes are paid, so i can withdraw the rest of the money cleanly. There won't be any employes etc. I come to the US fairly often so it's not a problem to come to open a bank account etc. I hope such a setup is doable.

I won't be doing any payrolls, accounting should be fairly straightforward. I need advice on which type of ownership (sole or not) and entity would best suited so the taxes are minimal, if there is a way to deduct costs, etc.

Thank you.

Evan
03-14-2012, 08:38 PM
An LLC or corporation would work. As a non-resident of the US, you'll certainly have a US income tax reporting requirement. Unfortunately much of the specifics go beyond my area of professional expertise.

Business Attorney
03-15-2012, 12:56 AM
If you don't have any fixed connection to any other state, it probably makes sense to use a Delaware LLC (http://www.limitedliabilitycompanycenter.com/delaware.html) or a Delaware corporation, although there are other states that have equally favorable treatment (some experts recommend a Nevada LLC (http://www.limitedliabilitycompanycenter.com/nevada.html), for example).

Generally, because of the pass-through nature of income of an LLC and the fact that your corporation would not qualify as an S-corporation because you are a non-resident alien (apparently, from your post), the LLC would be the clear choice for tax purposes. However, some countries have special treatments of dividends that exclude them from income, and have rates that are higher than the maximum U.S. corporate tax rate. If that is the case for you, you would be better off with a corporation paying tax in the U.S. and then distributing dividends to you. The tax treatment of your income in the country of your residence is a question that a tax professional in your home country would have to answer.

Although you don't mention it in your post, the title of your post says that you need a CPA or accountant in Delaware (http://accountantlist.info/delaware-accountants/). I certainly think that you should get professional advice, but I don't think it particularly matters where the person giving you tax advice is located. The issue, if you are getting comprehensive advice, is how Delaware compares to other states that you might organize the business in. In addition, if you are earning the income in multiple states, the states have apportionment formulas that are intended to allocate income to the states where the income was earned, not just where the LLC or corporation is organized. In many cases, only the registered agent (http://www.limitedliabilitycompanycenter.com/llc-registered-agent.html) of the LLC or corporation is located in the state where it is organized; all income-producing activities are conducted elsewhere. It would be too easy for businesses to avoid taxes if they could keep their physical location and business activities in one state and simply hire a registered agent (often for about $100 per year) to "move" their state of incorporation to another state.

So the best advice is to get a good tax advisor who can gather all the relevant facts and give you advice on you own personal situation.

wawa
03-15-2012, 09:09 AM
Thank you for the replies.

In that case, can anyone recommend a good tax advisor? Will he be able to give advise on which entity to form? (such as LLC one memeber or partnership etc)

Do i need to have dividends if I'm a sole owner? I was planning to pay taxes in the US and be done with it. If I'm the sole owner and am taxed on personal income basis, wouldn't it be simpler?

Does selling a right to use our name for a camp constitute as doing businesses in a state? For example if I'm my company is in Delaware and the people that buy the camp license are from California, Illinois and New York, i am considered to be doing businesses in those states and licenses for it? I won't be physically going to those states, the customers will just make a bank transfer to my account and that's it.

I'm know I'm out of my depth here, that's way I'm searching for a professional.

While less taxes is always a good thing, I'm aiming for simplicity first.

Thank you for the help.

meyerandray
09-12-2012, 10:26 AM
I work for a European company that opened a US branch last year in Florida. We opened an LLC, and the owner of that LLC is the European company. The way we are set up, we file a tax return in the US, and pay taxes there, and then deduct those taxes paid on our tax return in Europe. Double check if there are any agreements between the US and your country that protect you from double taxation.
We did have to have a US citizen as a registered agent for the company, and the banks we consulted also required someone with a social security number to open the account. HSBC did not require this, but they do require a very high balance on the account, and the charges are very expensive.