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Tax Information With A Mother's Touch
Published by Eva Rosenberg, MBA, EA
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Tax Information With A Mother's Touch Published by Eva Rosenberg, MBA, EA |
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 » From: Singapore Dear TaxMama: I am suffering from information overload; my eyes are sore and blood shot having gone through the thick web jungle out there looking for the holy grail I eagerly sought for to no avail. I am now turning to the Divine TaxMama for the words of wisdom: I am a Singaporean interested in setting up a single-member Delaware based LLC. This company develops software products as well as provides software development service to companies worldwide. Being a foreigner and conducting my business from out of States, what kind of federal/state tax is applicable to me and or the LLC? Thank you. Alfred  Dear Alfred, Here's some Visine. And two aspirin. Call me in the morning. No, really, Alfred, as you've already discovered, this is not something a columnist can answer for you in a '25 words or less' format. You'd need to talk to a pro about a variety of issues. For instance, What part of your company will have transactions originating in the US that are subject to US taxation laws. Also, you may have transactions originating elsewhere in the world, but running through your US company simply because you must use your US Visa or Mastercard capabilities. Are taxes in Singapore higher than they are in the US? Would it make more sense for you to pay tax here and be able to use the money in Singapore after tax? The good news is, as long as you don't do business in Delaware, you won't even have to file tax returns in Delaware. So, in that respect, you'll have no state tax issues. With the rest of your business presence, mailing address, etc. in Washington State, again, you won't have state tax issues, since they don't have an income tax. You can establish your corporation, merchant account, toll-free phone lines, etc. through a company like Valis International The bad news? If you are selling software or 'products' rather than services, you may find yourself subject to sales taxes in various states. It will all depend on your volume. So, now, isn't this really more than you ever wanted to know? Perhaps a cup of tea, about now, might help? Best wishes, Eva Rosenberg Your TaxMama  |
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| Library of Congress - ISSN 1532-0790 Copyright © 2000-2003 - Eva Rosenberg |
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