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Q: Tax in Florida for non-resident alien who owns LLC ( No Answer,   0 Comments )
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Subject: Tax in Florida for non-resident alien who owns LLC
Category: Business and Money > Small Businesses
Asked by: keivman-ga
List Price: $25.00
Posted: 24 Mar 2006 11:16 PST
Expires: 23 Apr 2006 12:16 PDT
Question ID: 711532
Hi,
I am a non-resident alien, and want to open a LLC in Florida to start
doing business from this state (IT services). The parent company is a
LLC-like but in my home country. I want to know if is better to open
the LLC in Florida with the foreign (parent) company as the only
member, or if is better to have as members the non-resident aliens who
own the parent company. This is for tax purposes, since as a branch of
the parent company the LLC will be taxed as a corporation instead of a
partnership, and will have some issues with retained profit until the
parent company files a tax return.

I think (probably I'm wrong) that if the LLC is a partnership with all
members being non-resident aliens, each one of them with less than 25%
of the property (is this neccesary to avoid extra-paperwork?), then
all members have to file a tax return and pay only federal income tax
for their taxable income, and the company shouldn't be taxed as a
separate entity. Is that right? Also this mean no corporate income
tax, and no florida corporate income tax, is this correct?

All this is a little confusing for me, since the tax structure here is
quite different from the one in the US.

I understand I still have to ask a professional, but I want to be
prepared to do so, and to look in the right direction.

Thanks in advance.
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