cryptohunter
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Yes, a US citizen living in the US can start an offshore company for an Amazon FBA business. However, it is important to be aware of the tax implications and comply with all applicable laws and regulations.
The US tax authorities consider offshore companies owned by US citizens to be taxable on their worldwide income, regardless of where the company is incorporated. This means that a US citizen who starts an offshore company for an Amazon FBA business may be required to report and pay taxes on the company's income in the US, in addition to any taxes owed in the jurisdiction where the company is incorporated.
It is also important to note that US tax law requires US citizens to disclose their ownership and control of foreign financial accounts, including offshore companies, if the aggregate value of the accounts exceeds certain thresholds. Failure to comply with these reporting requirements can result in substantial fines and penalties.
The US tax authorities consider offshore companies owned by US citizens to be taxable on their worldwide income, regardless of where the company is incorporated. This means that a US citizen who starts an offshore company for an Amazon FBA business may be required to report and pay taxes on the company's income in the US, in addition to any taxes owed in the jurisdiction where the company is incorporated.
It is also important to note that US tax law requires US citizens to disclose their ownership and control of foreign financial accounts, including offshore companies, if the aggregate value of the accounts exceeds certain thresholds. Failure to comply with these reporting requirements can result in substantial fines and penalties.
