Is there a better alternative to minimize the payment of personal income tax, 100% by the law?
Context: - I am a Spanish citizen, living in Spain (European Union); - I will incorporate a LLC company, in the state of Nevada; - I will open a corporate bank account in Cyprus, on the name of my LLC company; - I will have a web site that gets an income on advertisement, on the name of my LLC company, transferring the money directly to the corporate bank account in Cyprus. - I know that I have to pay personal income tax in some country. Where do I pay IRS? Spain? EUA? Cyprus? Is there a better alternative to minimize the payment of personal income tax, 100% by the law?
Public Comments
- Given your situation, why would you possibly bother with the expense and complication of incorporating in the US?? Sorry, but that just does not make any sense at all. You'll be paying taxes in Spain for sure. Possibly Cyprus as well. You'll have to consult with Spanish and Cypriot tax professionals to get answers to those questions. If you have any actual business in the US you may owe taxes there if you are incorporated there. Get a copy of IRS Pub 519 at http://www.irs.gov to find out where you stand there.
- yes, it is called interest Treasury bonds.if you open a bond they can't tax you on it.only if you withdraw at the end when it runs out and then you also pay taxes on interest but you make some of your money back from taxes owed.
