Question

My LLC from in Delaware, only sell online marketplace, no bank account. Can I only fill the annual report and entity tax?

Forum|Forum|3 years ago
November 10, 2022
2 replies
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Hello, I am a Japanese citizen. I have an LLC company in Delaware. But my company only sells on AMAZON. I don't have a business bank account. Can I only fill in the annual report and entity tax? If I need to pay another tax. please let me know what tax I need to pay. Thank you.

Employee

Employee

You will need to expand on your facts in order for @_pk to respond:

Do you have any physical presence in the United States?
You must have some business bank account for the earnings / income from your sales and for purchases of product?
Where are your products sold?
What is the level of your sales?

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.

B

Bruce 888Author

I don’t have any physical presence in the US.

I don't have a business bank account in the US. But I have an online banking account like airwallex for the income from my sales.

I sold products on Amazon.

Yearly 15-20K sales.

P

pk12_2

Employee

@ Bruce 888, Generally a US person ( Citizen/ GreenCard/ Resident for Tax purposes ) owning an LLC can choose the entity character , that is a C- corporation, a partnership ( if valid ) , an S-Corp. The default entity character for the sole owner of an llc is dis-regarded entity i.e. the entity for tax purposes is not separate from the owner. Thus the owner files a schedule-C as part of his/her individual tax return. From 2017 on wards, an llc solely owned by a foreign person can only be taxed as a C-Copr. Thus you need to file a form 5472 and form 1120 covering the incomes/expenses of the llc. This also means that you must have an EIN for the corp . A very good informational page is at --> https://drummondadvisors.com/en/2020/11/20/foreign-owned-single-member-llc-and-irs-form-5472/ I am assuming here that you actually use the llc as the business front and doing business as --- not that you own an llc in name but do business as a foreign person / entity taking orders and shipping material from abroad --- because things would be different. The actual statutes covering this are 6038A, & 6038C. Is there more I can do for you ?