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US 17 | Multi Member LLC
Manage episode 322847742 series 3321676
Innehåll tillhandahållet av numba Australia Pty Ltd and Heide Robson. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av numba Australia Pty Ltd and Heide Robson eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.
Multi member LLCs - LLC’s with 2 or more partners - why this fear of multi member LLCs?
f you have a multi member LLC, you have all the filing obligations, 1065, K1, K2, K3 and so on, but in addition - if your multi member LLC has a US trade or Business and hence effectively connected income, then you also have 37% withholding on any profits to individual partners and 21% withholding on profits to corporate partners - unless of course a treaty applies. So this is a real disadvantage if you trade from a country that has no treaty with the US - like Argentina, Brazil, Chile, Peru, Uruguay, Paraguay - in fact half of South America doesn’t seem to have a double tax agreement with the US, but that is a story for another day - so if you trade from one of those countries without a treaty, then the multi member LLC is a problem because of withholding tax on ECI. But if you are in Australia, the US-Australia treaty will protect you and no withholding tax applies.
The speaker in this episode is James Baker.
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