US LLC, non-resident, payout in crypto

Redaline

Junior Member
Joined
Aug 15, 2017
Messages
178
Reaction score
84
Hello everybody,

since I am having an steady increase in income, I am starting to explore options to incorporate somewhere.
Now, I am living in a country where cryptocurrency is basically considered monopoly money, so I am wondering
if it makes a sense to form single member non-resideny Wyoming LLC, that would pay me in stablecoins.

My main question is, if somebody has experience with this setup and if this triggers additional obligations
besides form 1120 and form 5472?

Cheers!
 
The real question is how your country of residence taxes you. In your example, you want a foreign company to pay you dividends. Then this will get taxed in your country of residence as personal income. Maybe your country has a special (read: lower) tax rate for that - quite a few do. But then again, maybe not.

So the first thing you need to get knowledgeable about is the tax system of your resident country.
 
Thanks for the answer. I am aware how tax works in my country, for that reason I am leaning towards crypto payouts as everything received in crypto is basically ignored. My question is leaning more towards potential issues on the US side of things if I convert all my gains into stablecoin.
 
Back
Top