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Corporate Service - USA

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Common FAQ for Oversea Companies (6)

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Q:
Is it possible to declare the taxes in USA with ITIN instead of EIN?
A:
No, it is not possible. Employer Identification Number (EIN) is the identification number for corporations. The purpose of EIN is for employers to communicate and deal with affairs of limited company to IRS more conveniently.

Q:
Is it possible to declare the taxes in USA with SSN instead of ITIN?
A:
Yes, it is possible. Individual Taxpayer Identification Number (ITIN) is a type of identification number issued by IRS. The purpose of ITIN is for those who are disqualified for SSN, but with the duty to pay and declare taxes in USA.

Q:
Is the validity of ITIN equal to the identity of a member of permanent citizen in USA?
A:
ITIN is a unique and distinguished number for foreigners to declare the individual tax issued by IRS in USA, but the validity of this number is not equal to be a member of permanent citizen in USA.

Q:
Is it necessary for foreigners with the income source from USA to proceed withholding tax?
A: It is necessary for foreigners with the income source from USA to proceed withholding tax as well as report to IRS about the amount of withholding tax on time. However, the income source from USA is included, but not limited in dividends, interests, rentals, and annuity.

Q:
What kind of industry will incur business tax for companies in USA?
A:
In the condition of such industry in USA related to wholesale, retail or any other taxation services, the business tax will be incurred. The rate of business tax is different from each state. Particularly to mention, no such system of business tax exists in Delaware.

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