27 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-...
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  • 286
8 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 ...
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  • 291
7 votes
Accepted

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 ...
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  • 140k
7 votes
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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 ...
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  • 12.2k
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 ...
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  • 45.3k
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 ...
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  • 158k
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 ...
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  • 158k
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 ...
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  • 158k
3 votes
Accepted

Should a business owner pay two different taxes for one thing? (One tax for his company and the second tax for his income from that company)

The company pays money on its profits. The company can pay David and Sara a salary, any reasonable salary they agree on as the company owners. David and Sara are now just normal employees with income ...
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  • 26.3k
3 votes
Accepted

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 ...
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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 ...
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  • 8,048
3 votes
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Corporation tax and annual accounts for a closed UK company that lost money

According to dot-gov's Strike off your limited company from the Companies Register page... Does company B need to file corporation tax with HMRC? Yes You must send final statutory accounts and a ...
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  • 23.2k
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 ...
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  • 16.2k
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 ...
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  • 12.2k
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 ...
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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 ...
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  • 26.3k
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 ...
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2 votes

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 ...
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  • 98.2k
2 votes

Do startups pay taxes on venture funds?

No. Tax is paid on profits, not on investments / venture funds.
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  • 20.3k
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 ...
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  • 140k
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 ...
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  • 140k
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 ...
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  • 140k
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 ...
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  • 140k
1 vote

UK closed investment company for stocks

Just to add to DaleM's answer: as well as deducting allowable expenses, dividends are taxed as part of one's total income after taking in to account the relevant Personal Allowance and Dividend ...
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  • 23.2k
1 vote

UK closed investment company for stocks

A company pays tax on taxable profit That is, taxable revenue less tax deductible expenses. Not all revenue is taxable and not all expenses are tax deductible. Capital gains are also taxed differently ...
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  • 158k
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) ...
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  • 140k
1 vote

Should a business owner pay two different taxes for one thing? (One tax for his company and the second tax for his income from that company)

They only pay tax once, whatever the salary. The reason is, that as employees, their salary is a legitimate business expense (deductible) for the company for tax purposes. (Only employees can get a ...
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  • 2,955
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 ...
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  • 165k
1 vote
Accepted

How is place of establishment determined under EU law for insurance purposes?

Based on the Providing services abroad within the EU text, this would depend on if the place of establishment in Country B has been registered there. The main criteria being: how often, for how ...
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  • 4,211
1 vote

Taxes and freelancing in Germany

A couple of 1000 € should leave you fine wrt. social insurance: that would be covered by the university job. Not much further burocracy here than notifying your health insurance. It will also leave ...
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