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What is W-8 Form: What You Should Know

The Balance How to File a Tax Return and Form W-8 or the Balance | The Motley Fool IRS W-8 (Series) Forms — What you need to know | The Motley Fool Which Income Tax Form is Needed by an Employee? How To Use Forms W-8 If You Are Married or Living With a  Filing With the IRS 1. Where do I file? If you must file your returns or claim exemptions electronically, you must complete Form W-8, the “Application for a U.S. Tax Refund”. This form is available from the U.S. Internal Revenue Service. You also should be familiar with the rules under IRS instructions for Form W-8, the “Form 843 Certificate of Foreign Status for the Foreign Earned Income Exclusion and the Foreign Corporation Income Tax Exclusion.” Also, for the income tax withholding requirement you need to review IRS instructions for IRS Form W2 (Certified Annual Financial Report) and IRS Forms W-2C (Certified Financial Statement) and W-3 (Statement of Transactions). If you are an employer with taxable wages, wages in excess of 600 (or 800 if your wages are in excess of 600) per month are subject to the W2C withholding and W2 reporting. The W-2C requires employers to withhold the federal insurance contributions tax (FICA) equal to 3.8% of the wages and reports the W2G withholding under a withholding code. The minimum wage for the 2023 calendar year is 10.30 an hour. For 2014, the minimum wage for the full calendar year is 9.50 an hour. Beginning in 2014, the minimum wage for the 2023 calendar year will be 10.10, and for 2013, the minimum wage for the entire calendar year will be 10.10. W-2C reporting for wages above and beyond the applicable 600 is required under IRS form 5055-B, “Employment Taxes with respect to Self Employment Income.” 2. What are forms I need? You must complete either: Forms 1040 and 1040A, which are also called “returns”; Forms 1040A-EZ and 1040ES, which are called “statements of accounts”; or Forms 1040, 1040A, 1040EZ, 1040ES.

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FAQ - What is Form W-8

Which W-8 form should I fill out as an LLC company?
How do they know to request a W-8 instead of a W-9? Are you Foreign?Assuming you need to submit a W-8 instead of a W-9, here are the questions to guide your W-8 decision.Do you have other members in your LLC? If you are the only member, a Single Member LLC is a Disregarded Entity taxed on your personal tax return. So you would submit the W-8BEN.If you have other members, are you subject to the default status or have you elected corporate status?If you are subject to the default status, your LLC is taxed as a partnership so submit the W-8IMYIf you elected Corporate status, submit the W-8BEN-E.https://www.irs.gov/pub/irs-pdf/...Other great answers here. Especially good advice from Carl and Mark, get to a CPA.
Which of the following W-8 Forms is needed?
We need more specifics about the structure. If you have a multi-member LLC and one of the members is a non-US individual, but the others are US individuals, then by default you have a US partnership and all income generated by that partnership is US taxable income. Treaty benefits would not apply.If you have elected for the LLC to be taxed as a corporation, then the corporation is a US corporation and all income is US taxable income. The corporation files its own tax return separate from the owners. If the non-resident owner receives dividends, then those dividends are taxed in the US at a flat 30% unless a lower rates applies due to a tax treaty.If you mean that the LLC has one single owner and that owner is a non-resident, then the answer depends on the nature of how the business is operated. If the single owner lives in a country that has a tax treaty with the US, then within that treaty there is most likely a definition of permanent business establishment that determines if the income from the LLC is US taxable or taxable in the single owner’s home country. That also determines which W8 form to complete.All of that and we have only covered US federal income tax. We have not even begun to consider other taxes such as state level sales tax if you are selling tangible goods to US based customers.My suggestion is you have a conversation with a US tax professional who can consider all the specifics of your situation.
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