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LTA Help Center

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Accounting
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Tax
Frequently Asked Questions
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Which States do you cover?

Yes, we provide firm registration services in any state across the United States. No matter where you’re looking to establish your business, we can assist with the necessary registration process to ensure full legal compliance.

However, when it comes to legal services and accounting, coverage may vary depending on the state and its specific regulations. This is because we exclusively work with accredited and licensed professionals to ensure the highest standards of service. As licensing requirements differ by state, our team conducts a case-by-case review to confirm service availability.

For confirmation and further details, please contact us, and we will assess the feasibility of providing the required services in your state.

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What are the accounting standards in the USA?

In the USA, the accounting standards are defined by the Generally Accepted Accounting Principles (GAAP), established by the Financial Accounting Standards Board (FASB). Public companies are required to comply with GAAP for financial reporting, as mandated by the Securities and Exchange Commission (SEC).

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How do we select the lawyers and CPAs in our network?

We select the lawyers and Certified Public Accountants (CPAs) in our network through a rigorous screening process that includes verifying credentials, checking references, and ensuring they have a strong track record of success. We prioritize professionals who are not only highly skilled in their fields but also demonstrate a commitment to ethics, client service, and ongoing education. Our goal is to include those who can provide the highest level of expertise and customer service to our clients.

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Which states can I register a company in?

LTA covers any U.S. states company incorporation service. However, primarily we do:

  1. Company Registration in New Jersey
  2. Company Registration in New York
  3. Company Registration in California
  4. Company Registration in Texas
  5. Company Registration in Delaware
  6. Company Registration in Wyoming

Depending on your needs the place of your desired registration may vary: legal requirements, taxes, etc.

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Do you work with non-residents?

Yes, we do work with non-residents.

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What are the most common types of residence permits in the USA?

The most common types of residence permits in the USA include:

  1. Permanent Resident Card (Green Card): Allows you to live and work permanently in the USA.
  2. Temporary Protected Status (TPS): Granted to individuals from certain countries suffering from conditions that temporarily prevent the country’s nationals from returning safely.
  3. H-1B Visa: A non-immigrant visa that allows US companies to employ foreign workers in specialty occupations.
  4. E-2 Treaty Investor Visa: Allows a national of a treaty country to be admitted to the United States when investing a substantial amount of capital in a U.S. business.
  5. F1 Visa: For international students attending an academic program or English Language Program at a US college or university.

Each type serves different purposes and has specific eligibility requirements based on immigration laws of the USA.

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Can I incorporate a business remotely?

Yes, you can incorporate a business in the US remotely. The process typically involves selecting a state for incorporation, choosing a business structure (like an LLC, corporation, or partnership), and filing the necessary documents with the state’s secretary of state or similar regulatory body.

For remote incorporation, you might also need to hire a registered agent within the state where you are incorporating, who can handle legal and tax documents on behalf of your company. Additionally, using online legal services or platforms that facilitate remote business formation can streamline the process, ensuring that all legal requirements are met without needing to be physically present.

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What types of business forms can I register in the US?

In the United States, you can register several types of business entities, each with its own legal and tax implications. Here are the most common forms:

  1. Sole Proprietorship: The simplest form, where the business is owned and operated by one person. There is no separation between the business and the owner, meaning the owner is personally liable for all business debts.
  2. Partnership: A business owned by two or more people. There are several types of partnerships:
    • General Partnership (GP): All partners share in the profits, liabilities, and management of the business.
    • Limited Partnership (LP): Includes at least one general partner with unlimited liability and one or more limited partners with liability restricted to their investment.
    • Limited Liability Partnership (LLP): Similar to a general partnership but provides some liability protection for the partners’ personal assets.
  3. Limited Liability Company (LLC): Combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. This structure is popular due to its flexibility in management and protection from personal liability.
  4. Corporation: A legal entity that is separate from its owners, providing the strongest protection from personal liability but requiring more regulations and tax requirements. There are two main types:
    • C Corporation: The corporation is taxed separately from its owners, and it can have an unlimited number of shareholders.
    • S Corporation: Offers pass-through taxation to its owners, but restrictions on the number of shareholders (up to 100) and who can be a shareholder.
  5. Nonprofit Corporation: Organized for charitable, educational, religious, literary, or scientific purposes. These are eligible for federal and state tax exemptions but must follow strict guidelines on what the profits can be used for.

Choosing the right business form depends on many factors, including the level of liability protection you need, the desired tax treatment, and the complexity of the business you are willing to manage.

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What are the ordinary tax rates in the US?

Below you may find “standard/ordinary” tax rates; however, please note that many tax exemptions might apply, and sorts of statuses might be obtained by businesses and individuals for tax relief. Therefore, the rates below are just for reference, and each transaction, business, holding of property, or any other taxable object/subject shall be subject to separate deep and personal analysis.

  • 10% – 37% Personal Income Tax
  • 21% Corporate Income Tax
  • 0% – 20% Capital Gains Tax (depends on the asset type and holding period)
  • 0% – 37% Dividend Tax (qualified dividends may be taxed at capital gains rates)
  • 0% – 37% Estate Tax (applies to estates exceeding certain thresholds)
  • 0% – 37% Gift Tax (annual exclusions and lifetime exemptions apply)
  • 0% – 12% Sales Tax (varies by state and locality)
  • 0% – 55% Property Tax (varies widely by locality)
  • Excise Tax (varies by product, such as tobacco, alcohol, and fuel)