US Corporate Tax question


M

Maximus

Hi all,

I am running a small business in Canada. Recently we registered a foreign
corporation in US and got a tax ID. We do not have people operating in the
US office. The US corporation was set up mainly for processing some payments
which can not be done in Canada. The actual product development, sales,
customer service are done in Canada even for US customer.

The question - what is the tax consequences for opening this office? Does it
mean that we have to reprot all US sales to IRS when we file the tax return
for this US subsidiary, or we can treat it as a complete different company
(which only processes payment for the parent company)?

Appreicate your thoughts on this topic. Thanx in advance.

Jack
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads


Top