   company and corporation questions for anyone that can respond them :)
  Hi everyone, i have a few questions that i would like to be responded if anyone can plz:- First, can i create a corporation or a company in another country that i dont physicaly live in, or im legaly bounded, like i dont have any connection, ex. resident, born in, etc.- in game related, what would be better as, company, corporation, LLC or what?- if i do get to register a corporation in like usa, would i need to pay taxed, if i would actualy not get any money after some time?- in case that i make a website, that is linked to the corporation and i recieve any form of donation would that become income that would be go to tax or anything like it?thank you for your time and reading all of that :)   
Quote:Original post by Odin1985Hi everyone, i have a few questions that i would like to be responded if anyone can plz:- First, can i create a corporation or a company in another country that i dont physicaly live in, or im legaly bounded, like i dont have any connection, ex. resident, born in, etc.> You should make a business where you live. You could make one in another state, but would pay more in the form of a registered agent.Quote:- in game related, what would be better as, company, corporation, LLC or what?> It's not related to the game at all. It's related to how much liability you want to shoulder. A lawyer should be consulted.Quote:- if i do get to register a corporation in like usa, would i need to pay taxed, if i would actualy not get any money after some time?> If you make money, you get taxed. If you own a business as a sole proprietor, you send in estimated taxes 4 times a year. If you are a corporation or an LLC, you pay a minimum tax annully, even if you made no money.Quote:- in case that i make a website, that is linked to the corporation and i recieve any form of donation would that become income that would be go to tax or anything like it?> You would have to declare and pay taxes on it (the latter depends on what you earn). Quote:thank you for your time and reading all of that :)No problem. Here's a good starting link: http://www.irs.gov/businesses/small/article/0,,id=99336,00.htmlThe IRS website has some really good info and good state links.   ;  thank you for all the info, the problem is that where i live, (venezuela), the economy is going from bad to worse, is really unlikely to get a game company and get it to greatness, also i was thinking of getting in a place where i could make ties with other companies or publishers   ;  A US lawyer should be able to help you set up a company in another state/country than you live in. Some countries have restrictions on this (enforcing that at least one of the principals have to be resident in the country). This is the kind of thing a lawyer is for.A company is largely a legal entity, and so the company pays tax wherever it's registered. In addition, you'll be charged tax on any payments the company makes to you (dividends, salary, etc). Depending on how you structure that relationship (where you're resident, what your relationship with your company is, and so forth), you may be charged tax in the US, in your home-country, or both.The law doesn't actually differentiate between different forms of revenue (whether it's sale, donations, ad-revenue, etc). In all cases, the company is liable for any profit it makes. Have fun,Allan   ;  Odin wrote:>can i create a corporation or a company in another country that i dont physicaly live inNo, I don't think you can.>what would be better as, company, corporation, LLC or what?Talk to your attorney (you have to have an attorney. If you can't afford one, you are not ready to go into business).>would i need to pay taxed, if i would actualy not get any money after some time?You only pay taxes on money you earn.>in case that i make a website, that is linked to the corporation and i recieve any form of donation would that become income that would be go to tax or anything like it?You have to pay taxes on all money you make.>the problem is that where i live, (venezuela), the economy is going from bad to worse, is really unlikely to get a game company and get it to greatnessIt can't happen if you don't try. Read my August 2004 column - http://www.igda.org/columns/gamesgame/gamesgame_Aug04.php.>also i was thinking of getting in a place where i could make ties with other companies or publishersThen you'd have to move there. And that's very hard too. You're faced with two difficult choices. I can't tell you which one is more difficult or which one is right for you. Good luck!Tom;  I can't tell you what to do if you're in Venezuela, unfortunately. It probably means like Tom said.. you have hard choices to make and hard work to do. Good luck.   ;  yeah thank you everyone for their responses, i must stat to get a business plan up and work on it, i would probably have to make teh company in venezuela, altho the 2 biggest problems at the moment is the upcoming election and the fact that the us dollar is controled by the goverment so i would not be able to get it easily, but i will see what i woudl do to get it up and running   