Questions tagged [corporate-tax-laws]
The corporate-tax-laws tag has no usage guidance.
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Suppose I incorporate in Delaware. If I sell online services to ppl anywhere in the US, do I need to register as foreign in every state?
Suppose I incorporate in Delaware, with an agent that has a physical address there to represent the company in Delaware, and I live in California building an online service from home.
First do I need ...
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For an LLC that is not a C-Corp but taxed as a C-Corp (form 8832), does the EIN change when becoming real C-Corp?
Suppose someone creates an LLC and will not be raising funds now, and won't have other company owners yet (like a sole-proprietorship), but elects for the LLC to be taxed as a C-Corp with form 8832.
...
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Does the private component of the City of London Corporation pay any tax on its financial activities?
I'm referring to the privately run functions of the City of London Corporation that are exempt from public authority provisions such as the Freedom of Information Act.
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Do TV games have tax exemptions when prize money goes to an non-profit?
In some TV games, where participants are usually famous people, the prize money goes to charity organization. In France, donations to such organizations by individuals give right to tax exemptions. Do ...
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Are business expenses put into escrow by a freelance marketplace deductible before they are released from escrow?
Say that a U.S. person is a sole proprietor, and pays a contractor to do some work to support his business. This would normally count as a business expense, deductible on the U.S. person's taxes. But ...
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Do donations made by customers of a company allow the company to deduct taxes
I just got an email from American Airlines asking me to donate to Red Cross through their website and that I would obtain miles if I did so. The "exchange rate" is 10 miles for a dollar ...
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Forms for a NYS LLC to elect LLC/non-S Corp taxation
NY state (USA) here. If a 1-man NYS LLC wishes to elect S-corporation taxation status, they must file a Form 2553 with the IRS, and a Form CT-6 with the NYS Department of Taxation and Finance.
At a ...
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Can an employee pay for boss' things?
If someone had a trusted remote employee living in Saudi Arabia where there's no taxes, would it be possible for them to instead of paying themselves a wage, pay the foreign employee extra and then ...
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Can an LLC member "reject" an unvested gift of interest from a living member several years after it is given?
I have an LLC. My son and daughter (both over 18) are the only other members. In December 2019, I transferred to my son a capital interest worth $15,000 as a gift and did the same for my daughter. ...
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If a partner abandons his interest, what is the tax treatment for the remaining partners?
Suppose a partnership (such as an LLC with pass-through taxation) has three members. Each owns an equal share of the business, which has a net liquidation value of $300,000. One partner abandons his ...
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Legal definitions differentiating 'corporation' and 'private estate' in relation to Duchy of Cornwall
The Duchy of Cornwall is classified as a 'private estate' and therefore is exempt from corporation and capital gains tax.
Investopedia defines a corporation as 'a legal entity that is separate and ...
user42151
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What is penalty for not closing Delaware C-Corp?
I'm a non-US citizen and started Delaware C-Corp in Sep 2021, now I have to pay $400 franchise tax, accountant cost, and closing cost. I don't close this C-corp officially and In the future, If I have ...
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Is my company donating money to charity in lieu of paying me salary legal?
I currently donate most of my money to charity, and knowing this my company has offered that they could deduce my salary and instead pay that money directly to charity.
I posted a question to the ...
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Corporation tax and annual accounts for a closed UK company that lost money
Consider the following hypothetical scenario. Person A starts a limited liability company B in the UK, registered in England and Wales, through Companies House. Company B has expenses and some income, ...
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UK closed investment company for stocks
I am going to set up a closed investment company mainly for stocks (and eventually property) investments. Now, let's say I will invest in stocks and I will not cash out in the first tax year period, ...
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Under the US tax law, how to determine the taxable income of different classes of shareholders of a regulated investment company?
This question is about a US tax law.
Let's say a regulated investment company (RIC) such as a mutual fund has two classes of shareholders, each class being entitled to a different rate of annual ...
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Is there a U.S. and/or U.K. counterpart of Australia's AMIT(Attribution Managed Investment Trust) Regime?
The AMIT(Attribution Managed Investment Trust) Regime:
The AMIT Regime is a new set of rules for the taxation of managed investment trusts and their members. One of the aims of the AMIT Regime is to ...
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Can benefits be charity?
With the recent tax related charges against the Trump organization for various fringe benefits they have been giving top employees I have seen some counter claims I have questions about. The big one I ...
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Agreement on minimum global corporate income tax
Today there are some headlines that G7 countries and a lot of others decided to go with a global minimum corporate income tax of 15% (for companies of a certain size only).
The way they want to ...
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How does international income taxes work when the buying intermediary platform is in the United States and recipient corporation's country is India?
This question is a bit broad.
Assume a person A buys something in Europe. This is a digital product which is sold through a platform provided by an American company. After sales are made the final ...
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Do startups pay taxes on venture funds?
The corporate tax rate in Delaware is 8.7%. The federal corporate tax rate, which startups likely don't have the faculties to avoid paying, is 21%. If I'm a startup incorporated in Delaware, and I ...
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What happens to a dissolving corporation that cannot afford to pay its franchise tax fees?
What happens to a corporation, or any of its executives, when that corporation is dissolving but has unpaid state franchise tax fees that it does not have the assets to pay? Can these corporation ...
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regarding form w-9;
Is it legal for a company to withhold payment for an invoice because they require an 'updated" W-9 each year even if info has not changed? They have a w-9 for the vendor. Its my understanding W-9's do ...
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legal to use company property for personal use?
I own an LLC (limited liability company) in Arizona, United States. More accurately, I am the sole member. I have no creditors, no investors, no board, no on else to worry about. This is federally ...
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Do non-US companies have to pay US tax just because they have US customers?
I just came across some US tax forms for foreign entities like W-8BEN-E and 1040NR which made me ask this question.
Suppose a company called Cool Stuff Ltd. runs some sort of online business serving ...
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How is place of establishment determined under EU law for insurance purposes?
Under EU law, the country that gets to levy insurance premium tax upon a legal entity is the Member State in which the risk is situated.
Art. 13(d)(ii) of the Solvency II Directive specifies how to ...
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What is the legal principle which requires Apple to pay the Irish State €13 billion?
In 2016, the EU ruled that the Irish State provided state aid to Apple, which was deemed to be illegal.
As a result of this, Apple are required to back-pay €13 billion to the Irish exchequer.
From a ...
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Is imposing taxes on WhatsApp use legal or not?
I hope this is the right SE site to ask this question.
Recently, in Lebanon, the government decided to impose a daily tax on the first call made using WhatsApp call feature, equal to 0.2$.
Now ...
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Starting a business: is it legal to hire freelancers if you haven't registered the company yet?
The reasons I would want to delay the registration of this business as much as I can are:
I don't foresee having a single dollar of revenue until at least 2 years later (the product I'm building is ...
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Taxes and freelancing in Germany
This question is a follow up and more precise version of Tax law and freelancing as a side-job in Germany.
As explained in the linked question, working as a freelancer in Germany could turn out to be ...
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Do you have to pay capital gains tax on money earned before you incorporate?
This scenario is in the UK.
A person X makes 1.2 million in sales of an asset, before the end of the tax year the invests all the sales into a newly created corporation and they become owners equity....
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Does the employee or employer decide how to satisfy the tax withholding requirement for restricted stock granted as income? [closed]
I'm currently working at a startup and am going to receive some equity in the company through a restricted stock grant. The CEO inserted this clause into the grant agreement and it's giving me some ...
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What is the 83b Election postmark filing deadline?
I am getting mixed opinion on how the 83b deadline is interpreted and need clarification, due to the potential financial implications.
Does the 83b election need to be filed 30 days beginning on the ...
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Are there legal consequences if Trump's tax returns are not handed over?
In an April 13 letter that appeared to move Democrats closer to a federal court battle against the Trump administration, House Ways and Means Committee Chairman Richard Neal warned the IRS that ...
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E-filing Form 1120 and Form 5472 as a non US resident
Is Form 5472 (used in case owners of Delaware C Corporation are foreign) required every time with the submission of Form 1120 (used to file Federal Corporate Income Tax Returns)?
I submitted the ...
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Taxation in the U.S. for non-residents living abroad [closed]
I have the opportunity to get a small share of an acquaintance's LLC in the U.S. in exchange for some services. However, I am not a U.S. citizen or a resident of the U.S. - in fact, I have never been. ...
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Is a Florida corporation that shows no profit or losses required to file taxes?
A company is incorporated in the state of Florida; it was formed by a wantrepreneur. This company has no employees, no location, no profits, and no losses; the only proof this company exists is on ...
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Why do tech companies have an easier time avoiding taxes than non tech companies?
First of all, is this true? I mean it's one of the claims of one US presidential candidate.
I suppose that the reason is because IT company can shift their profit to offshore companies.
Why can't ...
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