Arizona | Tax Law
11/05/08, 4:18 pm
Legal Question
is our company taxable
Hello, and thanks for the help.
Ill try to be brief and detailed about the situation.
-Is an internet based bussines
-The Company is registered in Panama.
-Owners leave in the US
-All transactions made, deposit money in an account in Panama.
-Then earnings are wired monthly to each partner to banks in the US.
-Money is mostly spent in the US.
Here are the two scenarios..
1)Money is made from transactions that originate in the US..
2)Money is made for transactions that originate outside the US..
The 2 questions:
Is any of this taxable income just because the owners leave here?
Are those wire transfers taxable at the end of the year?
Thanks in advance for your help
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