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FAQ

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.
How does a W-8 form work with an Indiegogo fund disbursement? How much is the tax levied and what is tax-deductible in a crowdfunding campaign?
There are way too many variables and way too little information given to adequately answer this question, so all I can offer is general guidance on how a W8 form works and how an Indiegogo funding might work.First all businesses in the US are subject to information reporting requirements when they handle or disburse funds to individuals. The purpose of a W8 form is to collect the necessary information to comply with that information reporting. For individuals W8 comes in two forms Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding or About Form W-8ECI | Internal Revenue Service. The correct form to use will depend on a number of factors including the legal structure of your business being promoted on Indiegogo and what non-US country you are physically located in. If you were a US citizen or resident then the appropriate form would NOT be a W8, but rather a About Form W9 | Internal Revenue Service.As mentioned in the previous paragraph, the correct form will depend on how your business is structured and you physical location. That is where we get into the implications of an Indiegogo funding campaign. As a general rule funds generated through an Indiegogo campaign are considered taxable revenue to you and/or your business. How that revenue is taxed will depend on the US tax laws concerning sourcing of income. Also impacting your taxation is the possibility of a tax treaty between your home country and the US. Under US tax laws, a tax treaty will over-ride the general rules in determining if your revenue is taxable in the US or elsewhere.What you really need to do is have a conversation with a US tax professional who can consider all the specific implications of you conducting a crowdfunding campaign on Indiegogo and how you should properly complete a W8 form for them.
Can anyone who has succeeded in raising funds through crowdfunding tell me about the tax deduction process from the IRS in detail (especially for W-8) forms?
I’m going to guess, because you asked about W-8 forms, that you’re trying to use a US-based crowdfunding site to raise funds, but you yourself do not live in the United States.The IRS is going to, by default, consider funds raised through a US-based crowdfunding site to be US-sourced income. In many cases, when a US payment processor transfers money arising from US-sourced income to a non-US person, that processor is required to withhold 28% of the amount transferred as an advance payment of tax. You may be able to reduce or avoid this withholding entirely by making certain certifications to the payment processor that the funds you are receiving are exempt from IRS withholding, or are subject to being withheld at a lower rate (because of a tax treaty between the United States and the country in which you reside). Somes of the forms you may need to use in order to do this include the various species of Form W-8. Which W-8 form would be appropriate for you to use, if indeed any, would depend on your specific circumstances. You may also need to file IRS Form 1040NR, either to report taxable income and pay tax on that portion of what you raise which is taxable, to obtain a refund of amount withheld from transfers that were legally not taxable, or to obtain a refund of amounts withheld that exceeded the amount actually due under law.This area of law is complicated. You should consult with a tax professional familiar with US taxation as it applies to international transactions for advice on how best to proceed. The specific handling of your situation is likely to depend on more factors than can be addressed in a general answer on the Internet, and Quora’s Terms of Service prohibit providing individual questioners with specific legal advice.
As a foreign LLP based in India, which W-8 form should we fill up to avoid withholding tax if we are doing business with US clients/company?
According to some research, depending on your product or services and the type of business sales you are making, then there may be one of either two (2) forms to follow:8ECIor1042 and 1042SBefore you invest, You may need to consult a tax specialist or engage the services of an agent entitled to operate your business activity through contract and investments trusts. Otherwise, the foreign business is required to pay up to 30% as any other taxpayer. The IRS tax payer system is flooded with in and outs of this scenerio and should be followed to the narrowist term.