TRUTHS, SEMI-TRUTHS, AND SOME FALSEHOODS ABOUT LLC COMPANIES IN THE UNITED STATES

1. TRUTHS, SEMI-TRUTHS, AND SOME FALSEHOODS ABOUT LLC COMPANIES IN THE UNITED STATES It has been written and published at length and published, especially on the internet, about Limited Liability Companies (LLCs) in the United States. Let's see what truths, semi-truths, or even falsehoods can be found in certain publications that circulate on the internet, some very striking, undoubtedly made to capture the attention of surfers in search of professional services on this subject by Clockwork Financial and Wealth Management Services in Wyoming. 1. Legal Considerations: Declarative Statement: The LLC Company guarantees, without exception, the limitation of liability of the partner or partners of the company. Legal Reality: Although the Statement is true in general terms, it is no less true that the LLC Company has legal and tax obligations that must be strictly complied with. Failure to comply with these obligations may lead a judge in the United States, in the event of a judicial dispute.

2. To apply the Anglo-Saxon principle already well established as a judicial precedent for " piercing the veil of the company ", known in civil law as " lifting of the corporate veil "for which the partner or partners of the company can be held liable, and in that case, they must respond with all their assets for any damages that may have been caused in the United States. 2. Tax Considerations: Accounting & Tax Services in Wyoming Declarative Statement: The LLC Company to be considered a " disregarded entity " should not be taxed in the United States if the Partner or Partners are not Residents in the United States, and if the company does not carry out business activities in the United States. Legal Reality: The Federal Tax Service (" Internal Revenue Service ") - IRS- considers a Taxpayer (" Tax Payer ") in the United States to be any US natural or legal person for their Worldwide Income (" Worldwide Income "). The LLC is of course a US legal entity. The fact that the IRS considers it a " disregarded entity ", and that therefore, the income or losses may be attributable to the partner or partners by the principle of fiscal transparency, does not exempt the Company and/or Partner / s, even being Non-Residents, file a Tax Return in the United States. It will be very different if they should be taxed or not, depending on the resulting income or losses, or that by applying a Double Taxation Treaty that may apply to a certain case, it may be that a natural or legal person benefits from the fact of not having to pay taxes in the two countries that are part of the Treaty. Finally, remember that the States have the power to impose or not to the natural or legal persons resident or incorporated/registered in that State State Taxes, or to grant or not certain state tax benefits, but of course, Federal Taxes are not any natural person, or any US legal entity, is exempt, and in addition, by strict legal criteria of legal equality, the same tax rate is applied federally, without it being relevant in any case, in which state the natural persons reside or are incorporated or registered legal persons. Clockwork Accounting & Tax Services in Wyoming.

3. 3. Regulatory Considerations: Following the previous line, the LLC Company as a US legal entity must comply with the following US regulations: Clockwork Top Accounting Firms in Wyoming -Foreign Bank Account Regulation Act (" Foreign Bank Account Regulation Act "), which requires reporting to the IRS foreign bank accounts over $ 10,000 per year. -Law Compliance Foreign Account Tax (“Foreign Account Tax Compliance Act " ) by which foreign banks must report accounts and financial transactions of US legal entities abroad to the IRS. A clockwork Financial and wealth management service in Wyoming is all set to serve you with all the regulatory considerations. -Since 2017 there is an obligation to complete and report Form 5472 to the IRS by foreign owners of LLC Companies in cases that are specifically regulated by law. All the Top Accounting Firms in Wyoming Comply with the mentioned regulations. 4. Commercial Considerations: Declarative Statement: An LLC incorporated in a certain State can carry out business and professional commercial activities in all the States of the Union. Legal Reality: Indeed, a company incorporated in a certain State of the Union, can develop from its registered office, commercial activities that can reach all the States of the Union. However, if that particular company begins to develop business activities in another State of the Union, establishing or maintaining offices, premises, warehouses, or a permanent establishment in that other State, this leads to the need to establish a new company in that other State where the actual business activities of the company are carried out,

4. Or else, the company of the other State must be registered in that other State where it carries out business activities permanently. A company that maintains headquarters or business centers in two or more States, although it will only have to declare and pay a single Federal Tax, if it must instead, declare and pay State Tax in each of the States in which it develops locally business operations permanently. Additionally, in the State where the company sells products subject to the Sales Tax (" Sales Tax ") through a local establishment, the company must file and pay taxes according to the state regulations that regulate this tax in each State. 5. Migratory Considerations: Phrasing Declarative: The Company LLC is not necessary that the Manager / Partner obtained from the Immigration and Naturalization Service of the United States ( " United States Citizenship and Immigration Services ") -USCIS- one visa or work permit because they can take income directly as a partner by the fiscal transparency or application of the principle, without the need to be linked to the company through an employment contract or receive financial benefits as an employee. Clockwork Financial and wealth management services in Wyomingprofessionals are dedicated to the maximization of your financial benefits. Legal Reality: at a time when the immigration policy of the United States is governed by the principle of " zero tolerance ", the line between what the Manager / Partner of an LLC can do in the United States without a Visa or Work must be carefully studied and analyzed to avoid even approaching the line of what is strictly prohibited. To this day, the cases in the Ports of Entry to the United States where the Officials of the Service of Border Protection and Customs (" US Customs and Border Protection ") -CBP- denies entry to visitors. for business to the United States, especially when they operate as Manager / Partner in a US legal entity with bank accounts in the United States, and conducting business activities in the United States that are

5. prohibited from carrying out without the relevant Visa or Work Permit required. To carry out such business activities. For the rest, there is no doubt that LLC Companies, since their establishment by the State of Wyoming in 1977, and their subsequent establishment in the fifty States of the Union, have been and are an optimal legal and fiscal instrument to structure certain business operations in the United States and internationally. You just have to be properly advised of the regulations that apply to you today, and of course, assimilate that "legal and fiscal panaceas" do not exist, and less so, in the United States. To ensure the safe handling of your finance contact Clockwork Financial and wealth management services in Wyoming is all set for your benefit maximization.