Non-Residential LLC Tax Filing Assistance
Budget: $250 – $750 USD
I have a llc company in the United States, in Wyoming. I am not a resident of any country, and I need to pay a tax for my LLC, And I need to pay for the LLC as a non-resident.
It's also worth mentioning that my company utilizes the Stripe payment system. Users paid for subscriptions on the website, which resulted in transfers.
It's important to note that there were no other business expenses incurred, and funds were solely transferred to my personal bank account. I have two option how I can pay taxes( I think)
1. Filing as a C-Corp: Since an LLC has the flexibility to be taxed in multiple ways, in your situation, we can file strictly as a C-Corp. In this scenario, you won't need to file a personal tax return or obtain an ITIN. The tax rate will be 21% of the net income plus taxes on dividends and state taxes depending on the state where your company is registered. You'll also need to file Form 5472 as an attachment to Form 1120.
2. Filing as a True Single Member LLC: In this case, you'll need to file Form 1040NR and obtain an ITIN. Additionally, if there were transactions between you and your company, such as deposits or withdrawals, you may need to file Form 1120/5472. The tax rate will range from 10% to 37% depending on the net income.
It's important to note that there were no other business expenses incurred, and funds were solely transferred to my personal bank account. I have two option how I can pay taxes( I think)
1. Filing as a C-Corp: Since an LLC has the flexibility to be taxed in multiple ways, in your situation, we can file strictly as a C-Corp. In this scenario, you won't need to file a personal tax return or obtain an ITIN. The tax rate will be 21% of the net income plus taxes on dividends and state taxes depending on the state where your company is registered. You'll also need to file Form 5472 as an attachment to Form 1120.
2. Filing as a True Single Member LLC: In this case, you'll need to file Form 1040NR and obtain an ITIN. Additionally, if there were transactions between you and your company, such as deposits or withdrawals, you may need to file Form 1120/5472. The tax rate will range from 10% to 37% depending on the net income.