Legal Question in Business Law in Massachusetts
USA-Canada business patnership
I'm located in Canada and own a business. My friends live in the state and own a coorporated business. He his willing to get my business under his only if it is legal since we aim in two different market.
Is it legal? how do I proceed
2 Answers from Attorneys
Re: USA-Canada business patnership
I handle many CA US company ventures. It is legal for a US company to own a CA company. However, there are some specific things that need to be done to make sure both the US and Canadian company are in compliance.
I would be happy to discuss the matter in more detail with you or your friend.
Please feel free to contact me without obligation.
Re: USA-Canada business patnership
What I think you really need is a distributorship agreement rather than an ownership transaction -- if your business becomes owned by a non-US-taxpayer, then that business has to pay US taxes and has filing obligations. Seemingly this would be an unneccessary complication; happy to look at your precise circumstances if you provide the details.
Happy New Year!
LDWG
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