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Actually taxes for a US citizen are never that simple. If you have income, you
pay tax. If you own more than 25% (I think it is) of the shares of a non-US
corporation, your tax bill will include taxes on THAT corporation's income as
well, no matter where it is, Marshall's, Ouga Douga, BVI, North Pole, etc.
It's like the Eyes of Texas, do not think you can escape them.....
Jim Allen
Robert Cummings wrote:
> With an Offshore Corporation the Corp would pay no US or Aussie tax. The
> investors would have a foreign tax liability if they receive any income
> from the Corp or realized capital gains while living in the US. You on the
> other hand if you stayed there for two years would pay no tax from a salary
> you paid yourself from the Corp. After a longer term it of residency it
> changes to a question of citizenship term of stay in either countries
> during a calender year.
> Of course the usual deal I really don't know ask a real Offshore tax guy. I
> would suggest talking to the VP's of an excising Offshore Corp to get
> references to whom that may be. Plus the IRS watches these very carefully
> and you need to be sure your on firm ground before attempting this kind of
> scrutiny.
>
> Robert
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