US Ownership and tax

[albert]

Hi folks,

I am considering further purchases in the US and have a few questions, hoping you can give your two cents worth.

Is an EIN number also known as a Federal Tax ID number?

Can anyone recommend a company to setup an LLC for me?

Can the LLC borrow money to finance deals? If so, can anyone recommend a bank. broker?

If I lodge a tax return in the US do I need to pay the flat rate of withholding tax of 30% (I've read that expenses cannot be deducted in this instance) or do I pay the rate a normal LLC would and pay the difference to the ATO when I bring the money back to Oz?

Would it be wise to have my Oz Trust or my individual name as owner of the LLC?

Heavy stuff, I hope you can help!

Thanks

 

[alexander]

Hello Albert,
I have been advised that my LLC would be taxed at the rate of 15% which CANNOT be used as a tax credit when bringing the money back to Oz. I can otherwise elect to pay the flat rate of 30% withholding tax instead which would be a tax credit and then bring the money back and pay tax at the rate of Marginal Rate% minus 30%.

Luke, I assume that by completing a W8 form I would be acting with the intention of NOT bringing the money back to Oz, is this correct?
Cheers