Re: internet business - legal and tax questions

Folks, thanks for replies.

Maren - you can start a business as a non-resident alien (except an S-Corp,
where all shareholders must be min. US residents) but you are not allowed to
work in your business unless you have a work authorization. If you run your
business with partners which are authorized to work in US, you're fine.

Dave - I think all your answers refer to a C-Corp, right ?. I have been
thinking about LLC, which is a flaw through taxation entity with asset
protection and has more simplified maintenence than a C corp. There are
internet services like www.mycorporation.com where you can register a
company. As far as which state, I think you are right. Do you know how easy
it is to move the business to Nevada or Delaware in a year or 2 if state
taxes become big enough to make a move worthwhile ?

Cheers,
Leszek

"azzuri" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
>
> I am getting ready to form an service related internet business, which
could
> not be profitable in the first year or 2. The revenue will most likely be
> coming from US businesses. I reside and work in New Jersey, although I am
> non-resident alien authorized to work for my employer only. Therefore
there
> will be 1-2 partners extra in the business that are US citizens/residents.
> There will be no employees until the business is profitable. I would
> appreciate your opinion on several basic questions:
>
> 1/ which entity to choose - because of my immigration status, the best
> entity for a service related business - S-corp is out of question -
> therefore LLC or C-corp are the only options (I only consider asset
> protecting entities and I want to take US tax advantages for myself)
> 2/ which state should I register this company ? does it make sense to
> register company off-state while living in New Jersey ? does it make sense
> to register the company off-shore ?
> 3/ will I have to pay NJ tax on the business income in case most of the
> business will be done out of state ?
> 4/ which company registration service do you recommend ?
> 5/ what are best newsgroups to post these type of questions ?
>
> Thank you very much for any help.
>
> Azzuri
>
>