Legal Question in Business Law in Utah
Is it better to incorporate your business in a capital gains "tax haven" like Caymen Islands or Dominican Republic than to stay in the United States? I hear of companies moving to Dubai to save money on taxes.
Asked on 8/31/09, 11:21 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Most states tax the income that you earn in that state, regardless of where you are incorporated. The costs of incorporation and legal risks require a substantial net income to justify such a plan. You would be wise to consult with an attorney who specializes in tax matters to review your particular situation.
Answered on 9/08/09, 10:51 am
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