Cheyenne, WY asked in Banking, Business Law and Tax Law for Idaho

Q: Do non-resident LLC owners have the right for Tax Return based on income?

Im currently building a delivery startup LLC in Idaho, US. Im a resident and one of the partners as well, while two other partners are non-residents, who live in Europe.

Is 35% of total income or just the part of income that is distributed to foreign owners withheld for taxes?

Do non-resident LLC owners have the right for Tax Return and how much of 35% withheld can owners get back?

Do the LLC owners have to pay self-employment taxes on top of 35% tax withheld quarterly?

What taxes does LLC pay for contractor drivers?

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1 Lawyer Answer
D. Mathew Blackburn
D. Mathew Blackburn
Answered
  • Tax Law Lawyer
  • Englewood, CO

A: Foreign owners of an LLC report on a Form 1120 and 5472.

There are withholding requirements for foreign owners of an LLC.

I don't what tax return based on profits means.

LLCs are not taxed. The income flows through to the members. The foreign members will have different treatment.

A company does not pay tax on contractors.

You need to hire a professional yesterday. There's a lot of red flags here and I almost guarantee you have some serious issues that need to be fixed.

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