LLC with one partner being a non US resident
Hi,
Does anyone know if you can open up an LLC in the US with one partner as a legal alien and the other based in Australia. Also I understand the partner living in Australia could not claim a salary as he does not have a SSN, would he be able to take a dividend - or how else could he get his profit? Thanks |
Re: LLC with one partner being a non US resident
Originally Posted by ShelleyMan
(Post 9422111)
Hi,
Does anyone know if you can open up an LLC in the US with one partner as a legal alien and the other based in Australia. Also I understand the partner living in Australia could not claim a salary as he does not have a SSN, would he be able to take a dividend - or how else could he get his profit? Thanks |
Re: LLC with one partner being a non US resident
Originally Posted by ShelleyMan
(Post 9422111)
Hi,
Does anyone know if you can open up an LLC in the US with one partner as a legal alien and the other based in Australia. Also I understand the partner living in Australia could not claim a salary as he does not have a SSN, would he be able to take a dividend - or how else could he get his profit? Thanks |
Re: LLC with one partner being a non US resident
I agree, I was not sure why we were told the Australian would not be able to get a salary and they were not sure about the dividends, they said the rule is you have to have a visa and SSN to draw a salary in the US. We've put a call into someone else to see what they say.
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Re: LLC with one partner being a non US resident
Originally Posted by Peter Newton
(Post 9422470)
From a tax perspective there's no issue with a partnership having a non-resident alien partner. The NRA partner will file a nonresident US tax return to report his/her share of the partnership profits. Check with an attorney in your state to make sure there's no issue in having a foreign owner of a LLC.
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Re: LLC with one partner being a non US resident
Originally Posted by ShelleyMan
(Post 9422681)
Thanks for the info - so the Australian would say take his profit of $1000 and would then file a nonresident tax return (assume annually) and be told what to pay, it would not be the company who would have to pay the tax on his behalf.
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Re: LLC with one partner being a non US resident
Originally Posted by ShelleyMan
(Post 9422675)
I agree, I was not sure why we were told the Australian would not be able to get a salary and they were not sure about the dividends, they said the rule is you have to have a visa and SSN to draw a salary in the US. We've put a call into someone else to see what they say.
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Re: LLC with one partner being a non US resident
Originally Posted by meauxna
(Post 9422829)
Who told you that in the first place and who is the 'else' are you calling?
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Re: LLC with one partner being a non US resident
There may also be some reporting requirement if your company is more than 25% owned by a foreign national. The LLC has to report this I think. Form 5472 I believe.
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Re: LLC with one partner being a non US resident
Thanks for all the replies and helpful information, it's much appreciated.
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