International Tax Accountants Firm


Find out if your business name is already being used. URIC offers you a free preliminary name check of the availability in any state to ensure your business name is available for use.


A C corporation is the most common corporate structure. It is a legal entity separate from its owners, and may have an unlimited number of shareholders. A major advantage of any corporate form is that it limits the personal liability of the owners for claims against the corporation.


Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner unless it files Form 8832 and elects to be treated as a corporation. However, for tax employment purposes and certain excise taxes, an LLC with only one member is still considered a separate entity.


Professional corporations are entities for which certain states contain corporation statutes to make special provisions, regulating the use of the entity by licensed professionals such as doctors, attorneys, engineers, and accountants.


We have a necessary option to give life to your business name if you operate under a name other than the legal one. Sole proprietorships often use DBA because the official and legal name of a sole proprietorship is simply the name of the owner. A DBA allows them to use a real business name.


Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations. Check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members. Most states do not restrict ownership. Members may include individuals, corporations, other LLCs, and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only one owner.

A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for further information. There are special rules for foreign LLCs.


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An LLC that does not want to accept its default federal tax classification, or that wishes to change its classification; uses Form 8832, Entity Classification Election, to elect how it will be classified for federal tax purposes. Generally, an election specifying an LLC’s classification cannot take effect more than 75 days before the date the election is filed, nor can it take effect later than 12 months after the date the election is filed. An LLC may be eligible for late election relief in certain circumstances.


A partnership is a relationship between two or more people to do trade or business. Each person contributes money, property, labor or skill, and shares the business profits and losses.


An unincorporated organization with two or more members is generally classified as a partnership for federal tax purposes if its members carry on a trade, business, financial operation, or venture and divide its profits. However, a joint undertaking merely to share expenses is not a partnership. For example, co-ownership of property maintained and rented or leased is not a partnership unless the co-owners provide services to the tenants.

The rules you must use to determine whether an organization is classified as a partnership changed for organizations formed after 1996.


An organization formed after 1996 is classified as a partnership for federal tax purposes if it has two or more members and it is none of the following:
· Formed under a federal or state law that refers to it as incorporated or as a corporation, body corporate, or body politic.
· Formed under a state law that refers to it as a joint-stock company or joint-stock association.
· Insurance company.
· Certain banks.
· Wholly owned by a state, local, or foreign government.
· Specifically required to be taxed as a corporation by the Internal Revenue Code (for example, certain publicly traded partnerships).
· Certain foreign organizations identified in section 301.7701-2(b)(8) of the regulations.
· Tax-exempt organization.
· Teal estate investment trust.
· Classified as a trust under section 301.7701-4 of the regulations or otherwise subject to special treatment under the Internal Revenue Code.
· Any other organization that elects to be classified as a corporation by filing Form 8832.


After your Corporation is formed, you must file its income tax return every financial year along with other mandatory compliances like Advance Tax, Professional Tax, TDS, etc. Additionally, when the annual turnover of a company is above the limit of INR 1 Cr, the company is mandatorily required to file its Tax Audit every financial year.


Prepare and file the necessary paperwork to qualify a business as a foreign corporation or LLC in any State.


If you are considering starting a business as a corporation or as a Limited Liability Company (LLC), one of the first formalities you need to comply with, is choosing a registered agent. Even if you register as a foreign corporation or LLC and start trading in a new state, you would need to select a registered agent. There are several things you need to know while choosing your registered agent. By choosing a particular agent, you authorize him to receive tax related mail, as well as legal correspondence of your company. Therefore, your registered agent must own or rents an office premise and possess a physical address.


When your company is ceasing operations or is no longer in business, can file Articles of Dissolution in any state which, will legally end your company’s existence.

To formally dissolve a corporation or LLC, dissolution documents must be filed in compliance with the Secretary of State’s Offices of where the entity was formed. Dissolution is the process of withdrawing the entity as a corporate entity in the state of formation. Outstanding Franchise Tax balances must be met.


Your company to formally make an addition to, deleting from, or otherwise altering the existing provisions of the Articles of Incorporation, amendment documents must be filed in compliance with the Secretary of State’s Offices of where the entity was formed.


If you operate a business, the IRS may require you to obtain an Employee Identification Number (EIN). Additionally, most banks and credit unions require an EIN to open up a bank account.


To maintain the validity of the Corporation, formalities such as holding annual meetings of shareholders, adopting By-laws, and issuing shares of stock must observed.


When your company is conducting a commercial activity, for the sale of tangible products or modification of raw materials to offer a service, you must submit Sales Declarations monthly or quarterly, as assigned by the status after your registration. We guide and guide you to carry out this process effectively.