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Hello, My husband and I have a consulting and logistics company registered as an LLC in N.J. We are both N.Y. residents, but at the time I registered the LLC we were planning to move to N.J. and buying a home, but plans changed. From January to September my husband worked overseas for the U.S. government thereby collecting a paycheck. In September my husband resigned from the government and we opened an office overseas. The LLC was registered the previous year in N.J., but no work was performed. I have a two part question: 1) we were told by an accountant that we do not have to file or pay taxes to N.J.: a) because we never lived or conducted business in N.J., b) we do not have a physical address in N.J. just a registered agent, c) and because we are living overseas and conducting all business overseas for our clients; all our revenue is considered foreign-earned. We just need to pay the annual reporting fee for N.J. However all of our contracts are executed using our U.S. registered company (which has a listed business address in N.Y. and a registered agent in N.J.) and all of our revenue is deposited into our N.J. business bank account by our clients and then we transfer the funds to our overseas business bank account. Is this correct that we do not need to file or pay taxes to the State of N.J., just the annual report fees? What about N.Y.? Taxes were filed for the portion of my husband's job for N.Y., but not for the LLC?
2) We are planning to return to the U.S. for an extended period of time, travelling around to different states and residing for periods of time in different places. We specialize in consulting (my husband) and logistics (myself) for U.S. companies looking to do business overseas. We do not have a physical office in the U.S. We have a registered agent in N.J. We do not have any employees, only contractors. Now that we are considered a Multi-member LLC (it was initially registered in my name only, now my husband was added) and we are returning to the U.S.: a) is it best to dissolve the company in N.J. and register in Delaware or Wyoming? b) for tax purposes is it best to separate the company into two companies: i. A consulting company that is based in Missouri (we just received a consulting contract in Missouri that requires us to open a bank account there, which means we have to register to do busienss there); ii. A logistics company (doing business all over the U.S. and around the world) based in Delaware or Wyoming and file married/filing separately?
We also have two minor aged children and do not currently own property in the U.S.
I understand some of this falls under legal assistance. However, if you can give us a general idea of tax implications for a husband and wife: a) owning two separate companies and filing separately; b) keeping the company as one entity and not having a physical office space, but conducting business all over the U.S. and where it would be best to register; and c) if we are suppose to file taxes in N.J and maybe N.Y. for the LLC?
Any information or light you can shed on this challenging situation, would be GREATLY appreciated! Thank you!
2) We are planning to return to the U.S. for an extended period of time, travelling around to different states and residing for periods of time in different places. We specialize in consulting (my husband) and logistics (myself) for U.S. companies looking to do business overseas. We do not have a physical office in the U.S. We have a registered agent in N.J. We do not have any employees, only contractors. Now that we are considered a Multi-member LLC (it was initially registered in my name only, now my husband was added) and we are returning to the U.S.: a) is it best to dissolve the company in N.J. and register in Delaware or Wyoming? b) for tax purposes is it best to separate the company into two companies: i. A consulting company that is based in Missouri (we just received a consulting contract in Missouri that requires us to open a bank account there, which means we have to register to do busienss there); ii. A logistics company (doing business all over the U.S. and around the world) based in Delaware or Wyoming and file married/filing separately?
We also have two minor aged children and do not currently own property in the U.S.
I understand some of this falls under legal assistance. However, if you can give us a general idea of tax implications for a husband and wife: a) owning two separate companies and filing separately; b) keeping the company as one entity and not having a physical office space, but conducting business all over the U.S. and where it would be best to register; and c) if we are suppose to file taxes in N.J and maybe N.Y. for the LLC?
Any information or light you can shed on this challenging situation, would be GREATLY appreciated! Thank you!