Recent content by gioprise

To make this more simple. Is your US entity formed under US law? Is it engaged in US business? If both of those are true and you are a foreign owner then both forms 1120 and 5472 need to be filed. Its been that way for 5 years now...

A An LLC no matter how it chooses to be taxed will be taxed plain and simple either the members will report taxes directly or the LLC can chose to be taxed as a corporation and thus subject to federal corporate tax rae like every other C or S corp. If you are using a USA payment processor or...

Articles of Association or incorporation Passport (Has to be a passport for non-US and Canadian residents. National ID will not be accepted) Original EIN SS-4 document (PDF is fine) Corporate Bylaws Video upload saying I authorize account opening at Relay Financial 24 to 48 hours after...

Off the top of my head: Bank Prov, Evolve Bank and Trust, Metropolitan Commercial Bank, Blue Ridge Bank, Lending Club Bank, RBC, and Metabank all offer retail/commercial banking and deposit programs that accept and work with Crypto based MSB and fintech`s...

When you are signing up for a bank account, when they ask what your business category is, do you list MSB from the drop down? If not then you should not have a problem opening with most banks. If all you are doing is receiving merchant settlements from a crypto gateway then Chase, Wells Fargo...

Non resident means anyone who`s not a legal resident of the USA. Doesn`t matter if they`ve visited on a tourist visa at some point or have never set foot on US soil. Corporate taxes have to be paid to the IRS regardless of where you hold citizenship or residency. Your company would be a US...

Are you FinCen registered as an MSB and do you have a state license as an MSB. Even as a crypto company you need to go through the proper registration process through FinCen. Also check the state your company is operating in and see what their definition of MSB is, as more then likely you are...

No, you are thinking more about E2 or EB5 visa. Each of those requires a minimum investment and also that you employ US citizens or permanent residents.

You need an EIN to apply for a corporate bank account. They will not accept an account without an EIN unless you are a sole prop with a SSN or ITIN. If you are a foreign founder/director you are going to need to supply a EIN and more the likely the full SS-4 document (PDF) ID and proof of address.

You don`t need ID to open an LLC or Inc in most states. As a matter of fact most states don`t even need your name if you are filing through a PRO, lawyer or CPA. On the filing form for just about every state in the country the only information they ask for is the name of the incorporator. The...

Unless you are a fortune 500 and foreseeing a guaranteed and complex ligation environment for your legal department in the near future then there is no practical advantage to Delaware over Wyoming. As a matter of fact for most smaller organizations and Wyoming is a far more practical and cost...

21% of your net revenue so yes profit regardless if its B2C or B2B. You may be able to get rate breaks from processors if the majority of your business is done B2B. In terms of state taxes, If you form in Wyoming and are selling online services then technically you don`t have Nexus there and...

This is going to depend on if you are doing it yourself, if you are hiring a company and which state you are incorporating in. If you are doing things yourself the most time consuming aspect is going to be getting your EIN as a non resident. If you are using a formation/PRO company it can take...

Exactly. The only thing that changes is the mode of reporting. C-corp, S-corp/LLC and withholding, especially with an C-corp or S-corp in which certain profits will be paid as dividends to shareholders as opposed to profits to members of an LLC. I try to explain this to people in terms of having...

When you formed your business and the IRS opened your EIN, no matter if you are a non resident or not your company is a USA company with a USA EIN and thus subject to federal taxes. The only thing that differs is how those taxes need to be filed with the IRS and state if you are operating in a...