Review my US LLC setup

Rome20 Jan 2024

replies: 7
views: 315

RomeActive RecruitAuthor

Joined: Feb 2023
Messages: 125

20 Jan 2024#1

I have a wyoming LLC to offer my digital services. The business doesn't have a physical presence or clients from the US.
I'm an Argentinian resident and Argentina taxes US LLCs as personal income.

Argentina taxes from 0.7% to 2.25% for assets located abroad.

Do I have it right?

SolsOffshoreCorpTalk moderator

Joined: May 2019
Messages: 6,542

20 Jan 2024#2

That's a question you should be asking an Argentine tax adviser.

Probably no scope for tax in the US, though.

MarzioQuiet Authority

Joined: Aug 2019
Messages: 3,103

20 Jan 2024#3

Rome said:
Do I have it right?

Probably not because your LLC managed from Argentina is tax resident in Argentina.

RomeActive RecruitAuthor

Joined: Feb 2023
Messages: 125

20 Jan 2024#4

Marzio said:
Probably not because your LLC managed from Argentina is tax resident in Argentina.

Argentina views LLCs as personal income according to my research

Jerry1911Recognized Voice

Joined: Oct 2019
Messages: 802

21 Jan 2024#5

Rome said:
Argentina views LLCs as personal income according to my research

It'll be taxed from 5% to 35% then

MarzioQuiet Authority

Joined: Aug 2019
Messages: 3,103

21 Jan 2024#6

Jerry1911 said:
It'll be taxed from 5% to 35% then

Exactly, it's not "foreign asset"

RomeActive RecruitAuthor

Joined: Feb 2023
Messages: 125

21 Jan 2024#7

I think Argentina considers LLCs as personal income but taxes as foreign assets, atleast based on my short research. I'll consult a tax lawyer and update here.

MarzioQuiet Authority

Joined: Aug 2019
Messages: 3,103

22 Jan 2024#8

Rome said:
I'll consult a tax lawyer and update here

I really hope you are right, that would be great!

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