If I have a corporation in Hong Kong and I am a US citizen will my Hong Kong corp. have to pay U.S. Tax?
Posted on August 26, 2008 by admin
Carlos G asked:
I know for personal income tax i have to pay tax on any icome earned overseas but do the same rules apply to corporations.
I know for personal income tax i have to pay tax on any icome earned overseas but do the same rules apply to corporations.
I am not sure but all I know is that any overseas corporations should be taxed. in fact they should be taxed more for exporting jobs.
No you dont, because your coropration is not in U.S. but you will pay corporate taxes. like you said you will pay personal incom tax, corporation pays corporate taxes which is not the same as here in U.S. foreign locations different rules.
You definitely have to pay foreign and domestic income every year.