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The taxes were assessed by Delaware for failure to file annual tax returns and reports. The assessed taxes are owed by a failed start-up.
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answered on Aug 27, 2024
No, shareholders are not liable. Not really.
One of the benefits of corporate structure is the limitation of thÿe company's lability. A shareholder will only be "liable" for corporate income tax up the amount of their investment in the company. That invested part represents... View More 
E.g Delaware often mentioned as an offshore location and a business friendly state. Can I avoid being double taxed somehow (legally)? I would gladly pay taxes in the US. If i can't find a solution soon, i have to find another english market, unfortunately.
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answered on Mar 8, 2024
Starting a business in the US from a country without a double taxation treaty can indeed present challenges, but there are legal pathways to minimize the impact of being taxed in both jurisdictions. Delaware is a popular choice for international business owners due to its business-friendly laws,... View More
I was unable to pay last year's taxes due to financial circumstances. Can I pay the past year's due taxes now, with penalties? Will this affect my H-1B status? I plan to apply for an H-1B extension next year. Do they verify taxes and W-2 during the H-1B extension process?
answered on Oct 4, 2024
USCIS usually just verifies employment with H1B employer through recent pay stubs
I have a LLC in Delaware. I have used a foreign address ( Sri Lankan Address) for my llc. I am living in Sri Lanka ( Foreign Country ). If My LLC earning money in usa, should i pay tax individually to the usa and should pay tax by my llc?
answered on Jul 26, 2023
Your LLC is a flow thru entity in the US. It doesn't pay tax, even though it may have to file a return (partnership or your individual Sch. C return). You have to pay taxes though individually for LLC income, regardless of you not living in US. US citizens pay worldwide income. You can get a... View More
I cofounded a S corporation in Delaware a few months ago and left the company as the board member and employee after a couple of months due to disputes with my partner. I still kept the shares (50%) because I was not compensated for the work I did. The company was a start-up and did not have any... View More
answered on Feb 19, 2020
Depends on what's in the operating agreement/by-laws. What was the underlying entity that was S-elected? S-corps cannot be created at the state level, you have to have a registered entity upon which to elect S status. The IRS will use the entity law to determine owner liability and... View More
answered on Feb 15, 2020
Yes, because the county and state will put tax liens on the mobile home--whether you have the title or not.
answered on Nov 20, 2019
You'll have long term capital gains (Carryover holding period from the deceased) equal to the sales amount less the fair market value on the date of death (due to stepped up basis) (or alternate valuation date if that was used), less any costs of sale.
It's a capital asset with... View More
answered on Jun 25, 2019
Before you start looking for types of "stock/real estate holding companies" you should call an Immigration lawyer and ask them if what you are trying to do is possible.
I recently incorporated a LLC company in Delaware. I'm a Portuguese citizen living in Portugal. The products we sell are manufactured in the USA by a third party manufacturer, then shipped to a USA third party fulfillment center, and from there shipped to our customers. I don't own any... View More
answered on May 24, 2019
Free practical advice offered for the last 41 years to people starting or operating their own small businesses:
The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small... View More
In 2015, friends and I started a business. We allocated shares, and set up a vesting schedule. In 2016, we decided to allow the business license (Delaware) to lapse and operate with funds from an existing LLC business I own, however, the other partners do not benefit from the LLC business.... View More
answered on Aug 14, 2017
More information is needed to give you more detailed advice, but you have two basic options, revive the DE entity and sell the business or document the transfer of the business to the LLC and have it sell the business. The devil will be in the details. I would recommend you sell the assets of the... View More
answered on Jul 18, 2015
I don't practice in Delaware but, generally speaking, the owner is responsible for property taxes but potentially could shift that to the renter under the terms of the lease. A DE lawyer can verify.
Thinking of registering a limited liability company in the usa, would basically pay taxes in the usa
answered on Jun 26, 2014
I assume you mean can the government force a public sale of your house if you fail to pay property taxes. The answer is yes.
Hello i have a business that i started in the middle of 2012. i had my x girlfriend set up a merchant account and it was deposited to the business account. we broke up and i paid the business tax on 2012 under my name and know she is harassing me. What is the best way because she got a letter from... View More
answered on Dec 27, 2011
You can gift up to $13,000 to each person per year without it counting against your lifetime limit. If you are married, you can make an election on your tax return and increase that amount to $26,000 per person, per year. But unless you have a large estate, this will not mean you are going to pay... View More
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