Discussion:UK Internet entrepreneur with Florida LLC
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| Revision as of 23:41, 23 May 2007 Nosdivad (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 02:25, 24 May 2007 IntlTax (Talk | contribs) (When you become) Next diff → |
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| {{ForumNewPost|UserID=Nosdivad|Date=23 May 2007|Text=I own several websites in the UK and am planning on moving to USA (Florida). I am in the process of forming an LLC in Florida and opening an office there. I will remain a citizen of the UK but be in the U.S. indefinately with a VISA. My question is.....what country will I pay tax to from my business that is based in U.S.? The LLC will be taxed as a partnership (Flow-through entity). I am assuming that I will be U.S. taxes on the income derived from the U.S. Since the UK has a tax treaty with the U.S., I don't believe I will have to pay UK taxes on this UK income. Does anyone agree with me? Thanks.}} | {{ForumNewPost|UserID=Nosdivad|Date=23 May 2007|Text=I own several websites in the UK and am planning on moving to USA (Florida). I am in the process of forming an LLC in Florida and opening an office there. I will remain a citizen of the UK but be in the U.S. indefinately with a VISA. My question is.....what country will I pay tax to from my business that is based in U.S.? The LLC will be taxed as a partnership (Flow-through entity). I am assuming that I will be U.S. taxes on the income derived from the U.S. Since the UK has a tax treaty with the U.S., I don't believe I will have to pay UK taxes on this UK income. Does anyone agree with me? Thanks.}} | ||
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| + | {{ForumReplyPost|UserID=IntlTax|Date=24 May 2007|Text=When you become a U.S. resident you will owe U.S. tax on your worldwide income. If you pay tax to the U.K., then you can claim some or all of those taxes paid as a credit against your U.S. tax. The question of whether you will owe U.K. tax depends on your activities in the U.K., U.K. tax law, and whether the LLC has a permanent establishment in the U.K. | ||
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| + | If the LLC is taxed as a partnership and the other partner is a U.K. resident, your U.S. tax filings may be a bit complicated.}} | ||
Revision as of 02:25, 24 May 2007
Discussion Forum Index --> Tax Questions --> UK Internet entrepreneur with Florida LLC
| 23 May 2007 | |
| I own several websites in the UK and am planning on moving to USA (Florida). I am in the process of forming an LLC in Florida and opening an office there. I will remain a citizen of the UK but be in the U.S. indefinately with a VISA. My question is.....what country will I pay tax to from my business that is based in U.S.? The LLC will be taxed as a partnership (Flow-through entity). I am assuming that I will be U.S. taxes on the income derived from the U.S. Since the UK has a tax treaty with the U.S., I don't believe I will have to pay UK taxes on this UK income. Does anyone agree with me? Thanks. | |
| 24 May 2007 | |
| When you become a U.S. resident you will owe U.S. tax on your worldwide income. If you pay tax to the U.K., then you can claim some or all of those taxes paid as a credit against your U.S. tax. The question of whether you will owe U.K. tax depends on your activities in the U.K., U.K. tax law, and whether the LLC has a permanent establishment in the U.K.
If the LLC is taxed as a partnership and the other partner is a U.K. resident, your U.S. tax filings may be a bit complicated. | |
