What are the tax implications of owning a foreign corporation?
Are there significant tax implications for a US business to own a little over half of a foreign corporation?
Answered By: E. Ray Critchett, Zaino & Humphrey, LPA
There are significant tax implications of owning a foreign corporation. A lot of the answers will depend on where the corporation is located and the type of corporation. I would suggest scheduling a meeting with an attorney and/or your CPA to discuss these implications as soon as possible.
You may contact our office to schedule an appointment if you have further questions or if you need assistance with this issue. Thank you.
Answer Applies to: Ohio
Replied: 9/7/2010
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
You may contact our office to schedule an appointment if you have further questions or if you need assistance with this issue. Thank you.
Answer Applies to: Ohio
Replied: 9/7/2010
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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