Q: IRS and invoice
Hello ,
When a company based in Florida owned by a foreigner buy products from the web in the US to export , is it fine to have on invoice family name of the only owner of the company . Or is it mandatory to not have trouble with the IRS to have the company name in the invoice .
Also there is any custom tax when exporting products bought from Florida to other country ?
Thank you in advance
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- (916) 704-3009
- View Profile
- Answered
A:
When purchasing products in the US for export, it's generally advisable to use the company name on invoices rather than the owner's personal name. This practice helps maintain a clear separation between personal and business transactions, which is important for tax purposes and to avoid potential issues with the IRS. Using the company name on invoices also helps establish a clear audit trail for your business.
Regarding custom taxes when exporting products from Florida to another country, it depends on the destination country and the specific goods being exported. In general, the US does not impose export taxes or duties on most goods leaving the country. However, the destination country may have its own import duties, taxes, or other regulations that apply when the goods enter their borders.
To ensure compliance with export regulations and to minimize potential issues, consider the following:
1. Consult with a tax professional or accountant familiar with international trade to ensure your invoicing practices are compliant with US tax laws and regulations.
2. Research the import duties, taxes, and other regulations of the destination country to determine any applicable costs or requirements for your exported goods.
3. Consider working with a freight forwarder or customs broker who can help guide you through the export process, prepare necessary documentation, and ensure compliance with both US and destination country regulations.
By taking these steps and maintaining proper documentation, you can help minimize the risk of issues with the IRS or customs authorities in the destination country.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
