More details to this question:
I am on H1B working for a company in CA , I am planning to open an import export business in USA , After seeing your blog I understand that I can open a company but I cannot work for it so company can hire one us citizen to work for it . here are some question in my mind if you can help me understand .
1) Can I open a C crop ( is this the only best way ? , tax is very high on this one )
2) What is the tax structure in CA for a C crop.
3) How many minimum shareholder I need to have
4) At the end of year can I keep profit in company itself.
5) When I apply for TIN card , is it going to be on my name
Please advise what would be best way to do all this without effecting my visa status because next year I am applying for green card .
1 ANSWER
Business Transactions Attorney serving Los Angeles, CA
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Doland & Fraade
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1) Yes. No, an LLC is possible. (2) See the website for the Franchise Tax Board (California taxing authority) at www.ftb.ca.gov (3) one (4) Yes, subject to the tax provisions regarding accumulated earnings (5) The TIN is in the name of the company. I am in west Los Angeles. doland@dolandlaw.com
Answered on Sep 27th, 2012 at 12:05 PM