Legal Question in International Law in California
Foreign partner of an US LLC
When recieving profit distribution does he pay taxes in the US and Foreign or just the country of origin?
Asked on 10/12/08, 10:42 pm
1 Answer from Attorneys
R.C. Lim
The Law Offices of R.C. Lim
Re: Foreign partner of an US LLC
It depends on the foreign country what the tax law ramifications are.
You need to see an attorney or accountant that has experience in such matters. Often, you must pay US taxes but then get credit toward your foreign capital gains and distribution taxes on the amount paid to the US Treasury.
Answered on 10/13/08, 9:37 am
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