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25 votes
Accepted

Legal definitions differentiating 'corporation' and 'private estate' in relation to Duchy of Cornwall

As a matter of law, the Duchy is correct, because a superior court of record agreed, and dismissed the arguments made on the other side. The cited claims from Republic come from a case in the First-...
natso's user avatar
  • 266
7 votes
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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? You can't get blood out ...
ohwilleke's user avatar
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7 votes
Accepted

What is the legal principle which requires Apple to pay the Irish State €13 billion?

The EU has established rules about member governments subsidising industries. The intention is to ensure that trade in the EU is not distorted by government incentives, so that factories get built in ...
Paul Johnson's user avatar
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7 votes
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Is imposing taxes on WhatsApp use legal or not?

Neither of those clauses has anything to do with whether a tax on the use of Whatsapp is legal: The first clause tells users that they are responsible for any taxes that may be owed. It says nothing ...
bdb484's user avatar
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7 votes

Legal definitions differentiating 'corporation' and 'private estate' in relation to Duchy of Cornwall

In addition to natso's excellent answer, the Duchy does not claim in its accounts that it is not a separate legal entity. It claims "it is not a separate legal entity for tax purposes.' These are ...
abligh's user avatar
  • 306
5 votes
Accepted

Why do tech companies have an easier time avoiding taxes than non tech companies?

A substantial part of the value of the goods and services provided by tech companies is in intangibles. For example, this analysis suggests that approximately 1/3 of the price of an iPhone is in ...
Dale M's user avatar
  • 211k
5 votes

Starting a business: is it legal to hire freelancers if you haven't registered the company yet?

You don’t need a company to run a business As an individual (sole-trader) you can operate a business, hire employees and contractors and do everything else a business does. The purpose of a company ...
Dale M's user avatar
  • 211k
4 votes
Accepted

Does the private component of the City of London Corporation pay any tax on its financial activities?

CITY’S CASH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 The City of London Corporation is a single legal entity and legislation treats it as a local authority for tax ...
Lag's user avatar
  • 17.2k
3 votes

Is my company donating money to charity in lieu of paying me salary legal?

The company pays you a salary A. They need to withhold some amount B of that to give to the IRS. Now, if they pay you only C and withhold amount D that is based on that amount, and then make a ...
Trish's user avatar
  • 39.8k
3 votes

Can benefits be charity?

This is a duck You can label it a chicken if you like but you won’t fool anyone who knows about ducks. A charitable donation comes with no expectation of a quid-pro-quo. Paying a school in return for ...
Dale M's user avatar
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3 votes
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Are there legal consequences if Trump's tax returns are not handed over?

The legal requirement to hand over the returns is found in 26 U.S. Code § 6103: (f) Disclosure to Committees of Congress (1) Committee on Ways and Means, Committee on Finance, and Joint ...
zibadawa timmy's user avatar
3 votes

Do non-US companies have to pay US tax just because they have US customers?

It is more complicated. From Wikipedia “The United States has income tax treaties with over 65 countries. These treaties reduce the chance of double taxation by allowing each country to fully tax ...
George White's user avatar
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3 votes
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Do TV games have tax exemptions when prize money goes to an non-profit?

It doesn’t matter who the winnings go to, they’re legitimate business expenses and therefore tax deductible The prize money for these shows is a tax deductible business expense just like the salaries ...
Dale M's user avatar
  • 211k
2 votes

Starting a business: is it legal to hire freelancers if you haven't registered the company yet?

There are lots of reasons to register a company, but the law on corporation tax isn't one of them; as DaleM says in his answer you can just be a sole trader. However: As DaleM also says, having a ...
Paul Johnson's user avatar
  • 13.5k
2 votes

What is the 83b Election postmark filing deadline?

The rule is that the Section 83(b) election must be filed within 30 days after the date the property (stock, in this case) is "transferred". Several terms are somewhat tricky here: "Filed" means ...
Jack Fleeting's user avatar
2 votes

legal to use company property for personal use?

You and the company are separate entities. Let’s say your company has a printer. If that printer as a used printer is worth $500 then the company can’t give it to you for free or sell it for less than ...
gnasher729's user avatar
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2 votes

Do non-US companies have to pay US tax just because they have US customers?

I believe it would be useful to clarify some things first: There is no concept of "alien entities" in tax law (and by "tax" I mean specifically US federal income tax - as opposed, for example, to US ...
Jack Fleeting's user avatar
2 votes
Accepted

Agreement on minimum global corporate income tax

A result would be extra tax income for the US from companies like Apple or Google which are located in Ireland which has a corporate income tax below 15%. This doesn't follow. The U.S. already taxes ...
ohwilleke's user avatar
  • 218k
2 votes

Under the US tax law, how to determine the taxable income of different classes of shareholders of a regulated investment company?

Short Answer The two class preferred stock/common stock type equity structure described in the question is not allowed in an entity taxed as a regulated investment company under Subchapter M of the ...
ohwilleke's user avatar
  • 218k
2 votes

Can benefits be charity?

Payments made from an employer to an employee, or for the benefit of an employee, are not charitable gifts. These payments are compensation. Payments made to a specific individual, without the ...
ohwilleke's user avatar
  • 218k
2 votes
Accepted

Can an LLC member "reject" an unvested gift of interest from a living member several years after it is given?

Possible Forms Of Transactions Reformation Generally speaking, a transaction can only be unwound ("reformed") by mutual agreement without a court order in the same tax year in which it takes ...
ohwilleke's user avatar
  • 218k
2 votes
Accepted

Forms for a NYS LLC to elect LLC/non-S Corp taxation

Edit: I misunderstood the situation and will amend but leave original answer below with comment. For an LLC to stop being treated as S Corp, file Form CT-6.1 with NYS DTF. For the IRS, there is no ...
IKnowNothing's user avatar
  • 2,283
2 votes

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?

An entity is usually required to have a foreign corporation registration in as state when it "does business" in the state, although ultimately, this is mostly a matter of state law. The ...
ohwilleke's user avatar
  • 218k
2 votes

Germany GmbH shareholder living in another EU country

Germany imposes both entity level (flat 15%) and owner level taxes on a GmbH. But, absent efforts to evade taxes with in kind distributions, the owner level tax is only imposed on distributions which ...
ohwilleke's user avatar
  • 218k
1 vote

Is there a U.S. and/or U.K. counterpart of Australia's AMIT(Attribution Managed Investment Trust) Regime?

This answer is limited to the United States. There are several counterparts to this in U.S. law. The AMIT regime is essentially the law that applies to partnerships (especially limited partnership) ...
ohwilleke's user avatar
  • 218k
1 vote

regarding form w-9;

It is legal to request an updated W-9 form. The form includes a certification of accuracy (see p. 2). A payer can be liable for backup withholding, and that is a fact that can change from time to time ...
user6726's user avatar
  • 215k
1 vote

How does international income taxes work when the buying intermediary platform is in the United States and recipient corporation's country is India?

Ther corporation that receives the payment is an Indian company, so it certainly owes taxes to India. It apparently does business in the EU, or some affiliated company does, so some tax may be owed to ...
David Siegel's user avatar
1 vote

Do startups pay taxes on venture funds?

No. Tax is paid on profits, not on investments / venture funds.
Greendrake's user avatar
  • 27.5k

Only top scored, non community-wiki answers of a minimum length are eligible