Q&A: Is there a scenario where I do not need EIN?

Generally, all types of businesses without looking at their size and the number of employees must get an EIN. Therefore, you are required to have an EIN if you have a company in the US, but in some cases, you may not need to have one at all. EIN is used by the IRS – Internal Revenue Service to keep track of businesses and their tax responsibilities. In this context, some types of businesses that are not legally separated from their owners do not need an EIN.

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Q&A: Can I be exempt from applying for ITIN?

There are two types of tax identification numbers in the United States for individuals. The first is the Social Security Number which can be obtained only if the person is a US citizen, has a Green Card or has a visa that provides him/her with a temporary residency in the US. The other number is Individual Tax Identification Number.Individual Tax Identification Number, which is abbreviated as ITIN, is a nine digits tax identification number used in the US especially for when filing tax returns. As the name suggests, ITIN

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How to Incorporate an LLC in Delaware?

Forming an LLC in the State of Delaware is almost as easy as starting an account on social media. Sure, you do have to go through some procedures; but it is quite simple to do.The first step is to choose a company name that must be unique. Then, this name is to be registered at Delaware Division of Corporations. You should check if the name you have chosen is unique and untaken and reserve it until you form your business.The second step is to fill the required application form provided…

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As an owner of a Delaware LLC, do I have to pay taxes to U.S.?

You should not have any U.S. federal tax obligation for just transferring money through the LLC’s bank account as long as you are the owner of all the accounts involved.

However, you will have to pay DE franchise tax(approx. $300 annually) to keep the LLC active.

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What are the benefits of the EB-5 investment visa?

The most considerable benefit of an EB-5 Visa is getting a Green Card. Even though every person has his/her own reason to desire of getting a Green Card, here are some of the privileges U.S. Green Card owners have:

• The Investor has the ability to bring other family members to the U.S. after proper application and can obtain U.S. citizenship after 5 years.

• Any member of the family with a Green Card can enter the U.S. at any time and stay as long as he/she wishes

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How is taxation in Delaware works for a foreign LLC owner?

We kindly would like to remind you that due to COVID-19, the EIN procedure takes 1 – 6 weeks and the ITIN procedure takes 6 – 14 weeks roughly. It is delayed because of the IRS.

Thank you for your understanding on the matter. Please do not hesitate to contact us if you have any questions.

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Recent Update for EIN and ITIN Processing ETA

It depends on many factors such as what you are selling, where and to whom you are selling. The taxes you are obligated to pay are mainly based on your business type. At a minimum, you will have to pay Delaware Franchise Tax which is approximately $300 annually.Contact us via e-mail at info@delawareagency.com or reach out to one of our live supports to get an instant reply to your further questions!

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Which U.S. states have better laws for small businesses?

Delaware and Wyoming are both known to be great for small businesses. Which one to choose for your new company depends solely on your priorities. For LLC type companies, Wyoming will be the choice of those who prioritize lower annual fees. If you don’t have any assets, Wyoming takes as little as $50 annually to maintain your corporate existence within the State.

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