jung.lee
04-04 12:55 AM
:confused::confused:We cannot start a S-corp on EAD. Need to be GC holder or US Citizen.
...
Should a Corporation's owners later wish to be taxed as an S-Corporation, they would file a "Subchapter S" federal tax election (Form 2553) within 75 days of incorporating or within 75 days of the beginning of the calendar year. To do this, the Corporation would need to have less than 100 owners, all of whom must be either U.S. Citizens or permanent resident aliens ("green card" holders). Once the "S" tax election is made, the return to be filed is the 1120 "S", rather than the 1120. Whether or not you decide to be taxed as an S-Corporation, your company is still a "General Corporation" in the eyes of the state of incorporation.
...
[
But we can setup Solo or Partership or C-Corp. Don't run into legal issues by setting up S-Corp on EAD, before getting GC.
Good luck.
I am excerpting Internal Revenue Code Section 1361 below:
Internal Revenue Code
� 1361 S corporation defined.
(a) S corporation defined.
(1) In general.
For purposes of this title, the term �S corporation� means, with respect to any taxable year, a small business corporation for which an election under section 1362(a) is in effect for such year.
(2) C corporation.
For purposes of this title, the term �C corporation� means, with respect to any taxable year, a corporation which is not an S corporation for such year.
(b) Small business corporation.
(1) In general.
For purposes of this subchapter, the term �small business corporation� means a domestic corporation which is not an ineligible corporation and which does not�
(A) have more than 100 shareholders,
(B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2) , or an organization described in subsection (c)(6) ) who is not an individual,
(C) have a nonresident alien as a shareholder, and
(D) have more than 1 class of stock.
(2) Ineligible corporation defined.
For purposes of paragraph (1) , the term �ineligible corporation� means any corporation which is�
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585 ,
(B) an insurance company subject to tax under subchapter L,
(C) a corporation to which an election under section 936 applies, or
(D) a DISC or former DISC.
There is no mention here that the "resident" must be a permanent resident.
Here is an excerpt of the Federal Regulation that defines who is a "resident alien" for taxation purposes:
Reg �1.871-2. Determining residence of alien individuals.
Caution: The Treasury has not yet amended Reg � 1.871-2 to reflect changes made by P.L. 108-357
(a) General. The term �nonresident alien individual� means an individual whose residence is not within the United States, and who is not a citizen of the United States. The term includes a nonresident alien fiduciary. For such purpose the term �fiduciary� shall have the meaning assigned to it by section 7701(a)(6) and the regulations in Part 301 of this chapter (Regulations on Procedure and Administration). For presumption as to an alien's nonresidence, see paragraph (b) of �1.871-4.
(b) Residence defined. An alien actually present in the United States who is not a mere transient or sojourner is a resident of the United States for purposes of the income tax. Whether he is a transient is determined by his intentions with regard to the length and nature of his stay. A mere floating intention, indefinite as to time, to return to another country is not sufficient to constitute him a transient. If he lives in the United States and has no definite intention as to his stay, he is a resident. One who comes to the United States for a definite purpose which in its nature may be promptly accomplished is a transient; but, if his purpose is of such a nature that an extended stay may be necessary for its accomplishment, and to that end the alien make his home temporarily in the United States, he becomes a resident, though it may be his intention at all times to return to his domicile abroad when the purpose for which he came has been consummated or abandoned. An alien whose stay in the United States is limited to a definite period by the immigration laws is not a resident of the United States within the meaning of this section, in the absence of exceptional circumstances.
Here is the relevant Federal Regulation on Proof of Residence for determining status for tax purposes:
Reg �1.871-4. Proof of residence of aliens.
(a) Rules of evidence. The following rules of evidence shall govern in determining whether or not an alien within the United States has acquired residence therein for purposes of the income tax.
(b) Nonresidence presumed. An alien, by reason of his alienage, is presumed to be a nonresident alien.
(c) Presumption rebutted.
(1) Departing alien. In the case of an alien who presents himself for determination of tax liability before departure from the United States, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien, at least six months before the date he so presents himself, has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien, at least six months before the date he so presents himself, has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(2) Other aliens. In the case of other aliens, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(d) Certificate. If, in the application of paragraphs (c)(1)(iii) or (2)(iii) of this section, the internal revenue officer or employee who examines the alien is in doubt as to the facts, such officer or employee may, to assist him in determining the facts, require a certificate or certificates setting forth the facts relied upon by the alien seeking to overcome the presumption. Each such certificate, which shall contain, or be verified by, a written declaration that it is made under the penalties of perjury, shall be executed by some credible person or persons, other than the alien and members of his family, who have known the alien at least six months before the date of execution of the certificate or certificates.
(c) Application and effective dates. Unless the context indicates otherwise, ��1.871-2 through 1.871-5 apply to determine the residence of aliens for taxable years beginning before January 1, 1985. To determine the residence of aliens for taxable years beginning after December 31, 1984, see section 7701(b) and ��301.7701(b)-1 through 301.7701(b)-9 of this chapter. However, for purposes of determining whether an individual is a qualified individual under section 911(d)(1)(A), the rules of ��1.871-2 and 1.871-5 shall continue to apply for taxable years beginning after December 31, 1984. For purposes of determining whether an individual is a resident of the United States for estate and gift tax purposes, see �20.0-1(b)(1) and (2) and � 25.2501-1(b) of this chapter, respectively.
In summary, I submit to you that if you work in the US for more than 6 months out of a given year, you are a resident alien, and therefore are eligible to set up an S-Corp.
Since I am still learning about this, any input/feedback/logical arguments with relevant proof/citations would be appreciated!
...
Should a Corporation's owners later wish to be taxed as an S-Corporation, they would file a "Subchapter S" federal tax election (Form 2553) within 75 days of incorporating or within 75 days of the beginning of the calendar year. To do this, the Corporation would need to have less than 100 owners, all of whom must be either U.S. Citizens or permanent resident aliens ("green card" holders). Once the "S" tax election is made, the return to be filed is the 1120 "S", rather than the 1120. Whether or not you decide to be taxed as an S-Corporation, your company is still a "General Corporation" in the eyes of the state of incorporation.
...
[
But we can setup Solo or Partership or C-Corp. Don't run into legal issues by setting up S-Corp on EAD, before getting GC.
Good luck.
I am excerpting Internal Revenue Code Section 1361 below:
Internal Revenue Code
� 1361 S corporation defined.
(a) S corporation defined.
(1) In general.
For purposes of this title, the term �S corporation� means, with respect to any taxable year, a small business corporation for which an election under section 1362(a) is in effect for such year.
(2) C corporation.
For purposes of this title, the term �C corporation� means, with respect to any taxable year, a corporation which is not an S corporation for such year.
(b) Small business corporation.
(1) In general.
For purposes of this subchapter, the term �small business corporation� means a domestic corporation which is not an ineligible corporation and which does not�
(A) have more than 100 shareholders,
(B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2) , or an organization described in subsection (c)(6) ) who is not an individual,
(C) have a nonresident alien as a shareholder, and
(D) have more than 1 class of stock.
(2) Ineligible corporation defined.
For purposes of paragraph (1) , the term �ineligible corporation� means any corporation which is�
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585 ,
(B) an insurance company subject to tax under subchapter L,
(C) a corporation to which an election under section 936 applies, or
(D) a DISC or former DISC.
There is no mention here that the "resident" must be a permanent resident.
Here is an excerpt of the Federal Regulation that defines who is a "resident alien" for taxation purposes:
Reg �1.871-2. Determining residence of alien individuals.
Caution: The Treasury has not yet amended Reg � 1.871-2 to reflect changes made by P.L. 108-357
(a) General. The term �nonresident alien individual� means an individual whose residence is not within the United States, and who is not a citizen of the United States. The term includes a nonresident alien fiduciary. For such purpose the term �fiduciary� shall have the meaning assigned to it by section 7701(a)(6) and the regulations in Part 301 of this chapter (Regulations on Procedure and Administration). For presumption as to an alien's nonresidence, see paragraph (b) of �1.871-4.
(b) Residence defined. An alien actually present in the United States who is not a mere transient or sojourner is a resident of the United States for purposes of the income tax. Whether he is a transient is determined by his intentions with regard to the length and nature of his stay. A mere floating intention, indefinite as to time, to return to another country is not sufficient to constitute him a transient. If he lives in the United States and has no definite intention as to his stay, he is a resident. One who comes to the United States for a definite purpose which in its nature may be promptly accomplished is a transient; but, if his purpose is of such a nature that an extended stay may be necessary for its accomplishment, and to that end the alien make his home temporarily in the United States, he becomes a resident, though it may be his intention at all times to return to his domicile abroad when the purpose for which he came has been consummated or abandoned. An alien whose stay in the United States is limited to a definite period by the immigration laws is not a resident of the United States within the meaning of this section, in the absence of exceptional circumstances.
Here is the relevant Federal Regulation on Proof of Residence for determining status for tax purposes:
Reg �1.871-4. Proof of residence of aliens.
(a) Rules of evidence. The following rules of evidence shall govern in determining whether or not an alien within the United States has acquired residence therein for purposes of the income tax.
(b) Nonresidence presumed. An alien, by reason of his alienage, is presumed to be a nonresident alien.
(c) Presumption rebutted.
(1) Departing alien. In the case of an alien who presents himself for determination of tax liability before departure from the United States, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien, at least six months before the date he so presents himself, has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien, at least six months before the date he so presents himself, has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(2) Other aliens. In the case of other aliens, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(d) Certificate. If, in the application of paragraphs (c)(1)(iii) or (2)(iii) of this section, the internal revenue officer or employee who examines the alien is in doubt as to the facts, such officer or employee may, to assist him in determining the facts, require a certificate or certificates setting forth the facts relied upon by the alien seeking to overcome the presumption. Each such certificate, which shall contain, or be verified by, a written declaration that it is made under the penalties of perjury, shall be executed by some credible person or persons, other than the alien and members of his family, who have known the alien at least six months before the date of execution of the certificate or certificates.
(c) Application and effective dates. Unless the context indicates otherwise, ��1.871-2 through 1.871-5 apply to determine the residence of aliens for taxable years beginning before January 1, 1985. To determine the residence of aliens for taxable years beginning after December 31, 1984, see section 7701(b) and ��301.7701(b)-1 through 301.7701(b)-9 of this chapter. However, for purposes of determining whether an individual is a qualified individual under section 911(d)(1)(A), the rules of ��1.871-2 and 1.871-5 shall continue to apply for taxable years beginning after December 31, 1984. For purposes of determining whether an individual is a resident of the United States for estate and gift tax purposes, see �20.0-1(b)(1) and (2) and � 25.2501-1(b) of this chapter, respectively.
In summary, I submit to you that if you work in the US for more than 6 months out of a given year, you are a resident alien, and therefore are eligible to set up an S-Corp.
Since I am still learning about this, any input/feedback/logical arguments with relevant proof/citations would be appreciated!
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sanjeev_2004
04-18 03:29 AM
My I140 is pending since 16 May 2007. My employer is not helping much. Employer is not giving his attorney contact number also. After calling millions of times they putted one service request 4 months back but nothing happend. I talked to few attonrnies they told they can only work if your employer signs G28 form for me. But my employer is not even picking my phone. Can I do any thing without my Employer's help?
bajrangbali
06-11 10:52 AM
That is $5 billion not %50 billion. This number makes no difference, NYSE trades shock values more then that amount per second.
Thank you..I corrected it. It might make no difference, but when you think about US banks begging for $25 billions each just a few months ago, I dont think you will have the same feeling.
Thank you..I corrected it. It might make no difference, but when you think about US banks begging for $25 billions each just a few months ago, I dont think you will have the same feeling.
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vgayalu
04-25 11:05 AM
Yes . It is nice proposal to take the arrival date as priority date.
Some guys are applying from different states than where they work or living and get processed very quickly. some states are being delayed. So Taking the arrival date as priority date is genuine and fair.
:)
Some guys are applying from different states than where they work or living and get processed very quickly. some states are being delayed. So Taking the arrival date as priority date is genuine and fair.
:)
more...
shivarajan
03-07 02:30 AM
"Bindas maamu!"
After all those hopes & anticipations (esp. with recent soft lud's thingy) things are going to be bad in upcoming bulletin rather than good (or at least neutral).
It's difficult to rule out news/hint provided by the website to be incorrect so v are officially screwed?
To "sri1309" : Ur curse may have cast its spell?
After all those hopes & anticipations (esp. with recent soft lud's thingy) things are going to be bad in upcoming bulletin rather than good (or at least neutral).
It's difficult to rule out news/hint provided by the website to be incorrect so v are officially screwed?
To "sri1309" : Ur curse may have cast its spell?
rajenk
07-19 01:02 PM
Count me in. I live and work in Burbank (LA county)
-Raj
-Raj
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sunny1000
02-27 12:04 AM
still waiting...july 2002...NY
2010 When I saw this dress,
punjabi
08-13 04:52 PM
Hi buddyinus,
We all are going through hard time, but we do not need to display our hard feelings for someone through the forum! If you are upset at someone or if you have complains, email the Admin or a Super Moderator.
Do not write rude. Be a little professional at your behavior and communicate professionally.
Now, the fool is trying to change the subject by asking ppl to join the rally. Why in the world wud ppl trust him? The thread is barely 10 pages and after realizing that therez no point in discussing about what this thread is all about, he has shifted subject loyalites. How lame and insane is this guy? Pappu, LogicLife where r u guyz? Why dont u ban him?
We all are going through hard time, but we do not need to display our hard feelings for someone through the forum! If you are upset at someone or if you have complains, email the Admin or a Super Moderator.
Do not write rude. Be a little professional at your behavior and communicate professionally.
Now, the fool is trying to change the subject by asking ppl to join the rally. Why in the world wud ppl trust him? The thread is barely 10 pages and after realizing that therez no point in discussing about what this thread is all about, he has shifted subject loyalites. How lame and insane is this guy? Pappu, LogicLife where r u guyz? Why dont u ban him?
more...
Libra
07-06 01:26 PM
rumor always starts at one place may be it started right here in this thread
I never saw this roumer any where..
I never saw this roumer any where..
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amitjoey
07-11 01:08 PM
is there any way, any way in this whole freakin process, that we can get some sort of explanation for eb3-I first hand from DOS or USCIS? i mean there needs to be some justification for the acts? i know there are laws to interpret these dates, but how do we know that those laws are interpreted correctly by DOS or USCIS? though i am in eb3-I , jan 2003, i personally know atleast 3 folks who are in 2002 - eb3-I. Can we get some sort of guidance here.
I do not get it either. They seem to have this very complex formula to determine where to move the cutoff dates or they simply roll a dice. Is there no transperancy. Sometimes I figure I should just not be bothered. It is black box!!. But I can really not do that!. Atleast we are participating actively in the call campaigns. But is that all we can do?
EB3- June 2003, India
I do not get it either. They seem to have this very complex formula to determine where to move the cutoff dates or they simply roll a dice. Is there no transperancy. Sometimes I figure I should just not be bothered. It is black box!!. But I can really not do that!. Atleast we are participating actively in the call campaigns. But is that all we can do?
EB3- June 2003, India
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Almond
12-10 04:45 PM
Ugh, I want to cry right about now. :o
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InTheMoment
02-27 10:54 AM
I was thinking along the same lines. I have a pending RIR conversion case (with all recruitement done) since 5 weeks (Non-RIR PD March 2004) While DBEC has been approving the RIR conversion within a week and final certification in a couple of weeks, I have not heard of a single conversion and subsequent certification from the PBEC in the last 2-3 months (maybe I do not have as many data-points)
Guess will be losing all the efforts put into this conversion and a hopeful early certification as we near the Sept 07 deadline of DoL, just because of the ineffciencies and lax attitude at PBEC.
Anyone else had their RIR conversion at PBEC approved recently ?
Guess will be losing all the efforts put into this conversion and a hopeful early certification as we near the Sept 07 deadline of DoL, just because of the ineffciencies and lax attitude at PBEC.
Anyone else had their RIR conversion at PBEC approved recently ?
more...
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neoklaus
01-29 06:56 PM
Applied for AP - Aug.16 with NSC
The funny thing is,that as with EAD card,in a day after I subscribed for e-mail update with USCIS they send me e-mail that my AP and family members have been mailed.
LUD on AP Jan 23. AP on hand Jan.28.
The funny thing is,that as with EAD card,in a day after I subscribed for e-mail update with USCIS they send me e-mail that my AP and family members have been mailed.
LUD on AP Jan 23. AP on hand Jan.28.
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ronhira
07-06 02:06 AM
Funds will follow if people see viability. Anywaz nothing is coming out of lobbying efforts so currently how does it even matter ?
and hence a jesus is born. but let me ask you this - if nothing will come out of lobbying effort, then why is every tom dick and harry spending more and more money on lobbying. if lobbying won't work, what should we do.
wwbd - what would bawa do?
and hence a jesus is born. but let me ask you this - if nothing will come out of lobbying effort, then why is every tom dick and harry spending more and more money on lobbying. if lobbying won't work, what should we do.
wwbd - what would bawa do?
more...
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eb3stuck
07-15 04:27 PM
Count me in. I live in LA County - San Gabriel Valley
EB3 - RIR - India
PD 4/02, LC 9/05, I140 01/06
I-145/EAD sent 6/28/07???
9th year of H1 B, with 3 year ext. not stamped
Spouse on 9th year H1-B
1 time contribution ($200)
EB3 - RIR - India
PD 4/02, LC 9/05, I140 01/06
I-145/EAD sent 6/28/07???
9th year of H1 B, with 3 year ext. not stamped
Spouse on 9th year H1-B
1 time contribution ($200)
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Bpositive
06-24 11:10 AM
Constraints to doing work to your fullest potential, negatively impacts the individual and the society which he/she is part of...so personal loss is loss for the society...
And of course, the longer term impact is that the US won't attract the best talent...
And of course, the longer term impact is that the US won't attract the best talent...
more...
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WeShallOvercome
08-02 04:08 PM
I just spoke to a lady at USCIS and she told me they just started working on case receipts for July 2nd and onwards so in next couple of weeks most of you who filed in first week of july should see their receipts..this is what she told me and she sounded very authentic..
I think they are all on same page. Entering all applications in their systems by monday and another8-10 days for all to get receipts makes it 2 weeks :)
I think they are all on same page. Entering all applications in their systems by monday and another8-10 days for all to get receipts makes it 2 weeks :)
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eb3_nepa
07-05 10:52 AM
Admins can we combine this thread and
http://immigrationvoice.org/forum/showthread.php?t=6082
http://immigrationvoice.org/forum/showthread.php?t=6082
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skynet2500
12-10 04:06 PM
When am I going to get my gift card? I predicted it right. :)
snathan
08-12 02:25 PM
aiming london shooting tokyo, thats exactly what this bill is doing. The vast majority of nonsense is created by small "con"sulting companies, i.e shell companies with less than 50 employees. Infact Schummer if he wanted a solution for h1b missue should have gone after these small "con"sulting companies rather than real multi national companies like infosys,tcs, wipro etc. I am not a fan of this bill but if you going to put restrictions on h1b do it the right way. it is these small "con"sulting companies with less than 50 employees that did illegal things like selling approved labor until using approved labor was abolished, it is these small "con"sulting companies which work on 80 20 model which are bringing disrepute to h1b and people working on h1b. by putting this rediculous rule which says only comapnies having more than 50 employess will be targetted by this law schummer inadvertently is encouraging the setup of more "con"sulting companies. The vast majority of green cards issued in the last 5 years (may be as hight as 80% of green cards) have been issued to the "con"sultants" working in these "con"sulting companies. People working in fortune 500 companies abide by all rules like it is the job responsibily which determines eb1, eb2 or eb3 and not your educational qualifications and therefore i have seen phd recepients applying in eb3 whereas the "con"sultants working in these "con"sulting companies who have sometimes b.sc bcom or btech degrees applying in eb2 by faking experience to show 5 years requirement, they work in SAP but they advertise the position as someone needing java or any programming experience. this is outright lying, how can people working in fortune 500 and legitemate companies complete with these "con"sultants and these "con"sulting companies with less than 50 employees for green cards.
For green card reform the biggest culprit is per country limit\quota, the above issue is small compared to the country quota but it still needs to be solved.
before somebody says illogical things like crab dragging another crab down etc etc, let me tell you something all i am saying is everybody should play by the rules, "con"sulting companies especially with less than 50 employees and the "con"sultants who work there are the ones which have brought disrepute to the h1b profession by indulging in labor selling and buying, applying for eb1, eb2 irrespective of job requirements and flouting the rules, for the most part big It majors infy, wipro etc did not indulge in these illegal activities.
Do not generalise all consulting companies...At least people working in these consulting companies sponsored GC and buying house and spending their money here. Most of the fradulent GC process was done by these croocked indian companies. They exploited the EB1C system to the maximum extend. Most of the times, they are not filing the GC and keep the employees as slaves or they exploit the EB1c fo their boot lickers.
For green card reform the biggest culprit is per country limit\quota, the above issue is small compared to the country quota but it still needs to be solved.
before somebody says illogical things like crab dragging another crab down etc etc, let me tell you something all i am saying is everybody should play by the rules, "con"sulting companies especially with less than 50 employees and the "con"sultants who work there are the ones which have brought disrepute to the h1b profession by indulging in labor selling and buying, applying for eb1, eb2 irrespective of job requirements and flouting the rules, for the most part big It majors infy, wipro etc did not indulge in these illegal activities.
Do not generalise all consulting companies...At least people working in these consulting companies sponsored GC and buying house and spending their money here. Most of the fradulent GC process was done by these croocked indian companies. They exploited the EB1C system to the maximum extend. Most of the times, they are not filing the GC and keep the employees as slaves or they exploit the EB1c fo their boot lickers.
saimrathi
08-10 01:46 PM
Did you file concurrent?
Its random at best then anything else. According to my lawyer, my application (EB2) was there July 2nd morning.
Its random at best then anything else. According to my lawyer, my application (EB2) was there July 2nd morning.
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