Frequently asked questions
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Do I need to be a US citizen or resident to own a US company?
No. Anyone can own a US LLC or C corporation, and you don't need to be in the US to form one. The one exception is an S corporation, which can't have shareholders who are non-resident aliens.
Which state should I form my company in?
If you live or operate in a US state, that state is usually the right choice. If you have no physical presence in the US, Wyoming, Delaware and New Mexico are common picks because of their fees and filing rules. We recommend one on the call based on your plans.
What do you need from me to get started?
A government ID (passport or driver's license), your proposed company name, a short description of what the business does, and the ownership split if there is more than one owner.
How long does it take?
Formation takes from one business day to about three weeks, depending on the state. An EIN is issued the same day when the owner has a Social Security number or ITIN. Without one, the IRS processes the application by fax, which usually takes a few weeks.
What is the state fee?
It is the filing fee the state charges to register a company. It differs from state to state. We pass it on at cost and confirm the exact figure before we file anything.
My LLC made no money this year. Do I still have to file?
Often, yes. A foreign-owned single-member LLC generally has to file Form 5472 with a pro forma Form 1120 for any year it has reportable transactions with its owner, and the IRS penalty for missing it is $25,000. Many states also charge an annual report fee or franchise tax whether or not you earned anything.
Tell us how your company is set up and we'll confirm exactly what is due.
When are US tax returns due?
For calendar-year filers, partnership and S corporation returns are due March 15. Individual and C corporation returns are due April 15. A six-month extension gives you more time to file, but not more time to pay.
I've missed past filings. Can you help?
Yes. We rebuild the books for the missing years, prepare the late returns, and help you reply to any IRS or state notices.