USA LLC taxes

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Khalidbougallla

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Hello .
i create a LLC in wyoming state and take EIN .and my profit in the 2019 is 1K$
so i want to know how much of taxes i will pay and any other fees i will pay .
And I need an accountant or will I pay taxes myself?
Thanks very much
 
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Hi mate, it depends on the business you are running?
 
Judging from your username, I assume you are not a US person (citizen or green card holder).

In that case, if your business is not "engaged in trade or business in the United States" (ETBUS), you do not have to pay any taxes in the US. Basically, if you do not have any employees in the US, you will be fine.

You will however have to file an annual report (for Wyoming, although not in your first year), and for the IRS you have to file Form 5472 (this one is important!).

You can do that yourself, or hire a CPA who knows how to do this.

Hope this helps,
Chris
 
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I am not an American citizen but I am doing affiliation via Amazon US they only asked me to fill a paper when I registered, I don't remember the name of it .But no need to create an LLC. you are supposed to pay taxes in your own country.
 
M4DM4X said:
I am not an American citizen but I am doing affiliation via Amazon US they only asked me to fill a paper when I registered, I don't remember the name of it .But no need to create an LLC. you are supposed to pay taxes in your own country.
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An LLC has a lot of benefits vs. doing business in your own name, especially if your clients are in the US.
 
OffshoreSecrets said:
An LLC has a lot of benefits vs. doing business in your own name, especially if your clients are in the US.
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Maybe, but I don't live in the US and I already have my own company in my country, I don't want to be taxed twice thanks
 
(1) You don't know how taxes for a LLC work.

(2) I don't know what you are even doing in this thread, I was answering a question for Khalidbougallla.
 
M4DM4X said:
Maybe, but I don't live in the US and I already have my own company in my country, I don't want to be taxed twice thanks
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LLCs are pass-through entities for tax purposes, the only US tax you would pay is a yearly state filing fee.
 
$1K?

No need to pay taxes on that

Minimum threshold is $12k
 
Stavro said:
LLCs are pass-through entities for tax purposes, the only US tax you would pay is a yearly state filing fee.
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Why pay this tax when I can pay nothing.
Foreigners are not required to create an LLC, period
 
Dude... get an accountant - it will make life easier. Though someone said you pay nothing on the first $12k ... look that up; google is your friend.
 
M4DM4X said:
Why pay this tax when I can pay nothing.
Foreigners are not required to create an LLC, period
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An LLC lets you act as a separate US-based entity, which can be useful for presenting a better image to clients, and dealing with other businesses that require a US presence.

OP was not asking about the merits of an LLC, but the cost. In almost all cases, the answer to that is the state filing fees. The IRS may have separate taxes, but the presence or absence of an LLC typically does not affect the total tax liability.
 
Creating an LLC without knowing if you are going to pay taxes, nor how much, is not vey serious.

If you don't need a "physical" presence in the US, just close your LLC and manage your business from your own country it's simplier and cheaper tax wise.
 
M4DM4X said:
Creating an LLC without knowing if you are going to pay taxes, nor how much, is not vey serious.
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Every state handles corporations in their own way, and most LLC-creation services don't disclose the state fees upfront.

M4DM4X said:
If you don't need a "physical" presence in the US, just close your LLC and manage your business from your own country it's simplier and cheaper tax wise.
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It normally takes one page and $100 per year to manage an LLC. For any business that requires the benefits an LLC provides, that should not be an undue hardship.
 
Question is not about how much it costs to create an LLC, but how much taxes you pay. And it's a bad move to create an LLC when you live in another country where you already pay taxes
 
M4DM4X said:
Question is not about how much it costs to create an LLC, but how much taxes you pay. And it's a bad move to create an LLC when you live in another country where you already pay taxes
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There are no federal income taxes on LLCs. Nobody is "taxed twice" for owning an LLC. The only mandatory fees associated with owning an LLC are the annual filing fees paid to the state government.
 
Stavro said:
There are no federal income taxes on LLCs. Nobody is "taxed twice" for owning an LLC. The only mandatory fees associated with owning an LLC are the annual filing fees paid to the state government.
Click to expand...

If you have an income from a professional activity anywhere in the world you are taxed, that's the same in every country. And if you live in another country you are taxed in yours too.
 
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