Wyoming LLCs are particularly popular among foreign owners due to zero state tax in the state and simple compliance requirements.
What Applies:
– State Tax: 0% for LLCs without Wyoming-sourced income
– Federal Tax: Depends on whether there is U.S.-source income
– Dividends: None – all profits pass directly to the owner
– Reporting: Only required if you have U.S.-source income or U.S. payments
If There Is No U.S.-Source Income:
– No tax return required (1040NR or 1120)
– No withholding tax
– No tax prepayments
– No obligation to insure shareholders
– No VAT
Want to avoid tax pitfalls? Contact Localit today.
