Taxation
Each year, United States tax filings are due the second week of April or the second week of June. They can be submitted to the IRS electronically or by mail.
Our company has the authority to apply for an ITIN number with the IRS CAA (Certified Acceptance Agent). Our CEO, Samet Oynamış, is an Enrolled Agent authorized to file Federal Income Tax Returns by the IRS, and our COO, Mustafa Emre Selek, is an AFSP authorized by the IRS.
Get information according to your business type
Single-member LLCs, from a tax perspective, operate like a sole proprietorship. Therefore, year-end tax declarations need to be included in individual tax returns.
If a limited liability company has multiple partners, they need to make a tax choice after company formation.
If your company is established as an INC, CO, or chooses to be taxed as a corporation after formation, you need to file taxes as a corporation.
The United States has one of the world's largest consumer markets, providing entrepreneurs with access to a diverse and extensive customer base.
Sole Proprietorships are one of the simplest and most common types of business entities. In this type of business, there is no legal distinction between the company owner (sole proprietor) and the company.
Depending on the type of business, various consequences may arise when businesses are not operating in the United States.
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Samet Oynamış
IRS Enrolled Agent & CAA
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FAQ
LLCs and Multi-Member LLCs have a passthrough structure, meaning the company does not pay income tax, and the income is directly transferred to the partners. Therefore, instead of corporate tax, the company income is only paid by the partners at the individual level. On the other hand, Corporations, i.e., C-Corporations, are subject to a 21% corporate tax.
VAT (Value Added Tax) is not applicable in the United States. Therefore, there is no obligation to pay any value-added tax on your company’s sales.
Company income in LLCs or Multi-Member LLCs is directly subject to the personal income tax of the members. Income tax is paid by the members through their personal income tax returns. Tax rates may vary depending on the members’ income levels and federal and state tax laws.
In LLCs or Multi-Member LLCs, the company’s profit is directly transferred to the members, and members are subject to personal income tax. Therefore, there is no separate dividend tax. Dividends are declared and taxed proportionally to the member’s share of the company’s profit on their income tax returns.
The tax amount varies depending on the company’s income, the members’ income levels, and federal and state tax rates. Tax calculations should be performed by a tax advisor and determined based on the company’s specific financial situation and income.
Income tax is typically paid annually. Members usually use their personal income tax returns to declare and pay federal taxes in April. Separate dates may be set for state taxes. Payments can be made before or after the submission of the income tax return.
Tax payments are made through members’ personal income tax returns. When filling out tax forms, it is important to accurately declare income and calculate the appropriate tax base. Payment options may include online payment, bank transfer, or payment by mail.
Income tax payments are typically made annually in April with the submission of the federal income tax return. Different dates may be set for state taxes. The tax payment schedule may vary based on the timelines established by federal and state tax authorities.
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