Every year, tens of thousands of founders outside the United States incorporate a US entity. Some do it because a US investor asked them to. Some do it because they read that Delaware LLCs are easy to set up. Some do it because a competitor did. And a meaningful number do it without fully understanding what they are getting into, whether, legally, operationally, or from a tax perspective.

This guide exists to fix that. It is written for founders, business owners, and entrepreneurs who are not US citizens or permanent residents, who have built or are building businesses that touch the US market, and who want to understand the full picture and not just the parts that are easy to explain.

Part 1 covers the questions you should ask before you form anything. US incorporation is not automatically the right move. It creates real obligations in the US and, critically, it can create obligations in your home country that most guides never mention. Before you open a Stripe Atlas account or click through a formation service, you need to understand what you are signing up for.

At Antravia Advisory we work with non-US founders at every stage of this journey, from initial structure decisions through to ongoing compliance and home country coordination. If you would like to discuss your specific situation before proceeding, get in touch.

1. Why Founders Choose the US

The United States remains one the most attractive jurisdiction in the world for a business entity, and the reasons are worth understanding clearly and because they are not all equally valid for every founder. Some reasons are excellent. Some are myths. And some are true but come with costs that nobody told you about.

The real reasons the US makes sense

Access to the world's largest consumer and B2B market

The US is a single market of 330 million people with high per-capita income, a strong culture of paying for software and services, and procurement processes at large companies that often require suppliers to have a US legal entity. If your customers are American — whether consumers, SMBs, or enterprise — having a US entity makes selling to them significantly easier. You can sign US-standard contracts, accept US ACH and wire payments, integrate with US payroll and accounting systems, and present yourself as a domestic supplier rather than a foreign vendor.

Credibility and trust with US customers and partners

For many buyers, a US LLC or C-Corp carries an implicit signal of legitimacy. It means you have a US address, a US bank account, and a US legal identity. For enterprise sales in particular, procurement departments are far more comfortable contracting with a US entity. The administrative friction of onboarding a foreign vendor — tax forms, payment routing, legal review of foreign contracts — disappears when you have a US entity.

Investor expectations

If you are raising venture capital from US investors, particularly in Silicon Valley or New York, the expectation is that you might need a Delaware C-Corporation. This is not a legal requirement, but it is an extremely strong commercial norm, and in practice, departing from it will create friction that few founders want to deal with mid-fundraise. US VC funds are typically set up as Delaware limited partnerships with specific requirements around the types of entities they can invest in. An LLC taxed as a partnership creates complicated tax reporting for the fund's limited partners. A foreign company creates cross-border legal and tax complexity that fund counsel will flag immediately. A Delaware C-Corp, by contrast, is familiar, fast, and clean.

Key insight: If VC funding is part of your roadmap and even if it is 18 months away, you should structure as a Delaware C-Corp from day one. Restructuring later is expensive and time-consuming.

US banking and payment infrastructure

A US bank account gives you access to ACH transfers, same-day payments from US clients, US dollar accounts without FX conversion on every transaction, and the ability to use tools like Stripe, QuickBooks, Gusto, Rippling, and dozens of other US-native business tools that either require a US bank account or work far better with one. This is a practical advantage that compounds quickly as your business scales.

Hiring US employees and contractors

If you need to hire people based in the United States, a US entity is the most common and typically the most practical route, but it is not the only one. You can legally hire US employees without a US entity through an Employer of Record (EOR) service, or in some states through a foreign employer registration. For anything beyond a small number of hires, however, having your own US entity is usually more cost-effective, gives you more control, and is often expected by the people you want to hire.

Reasons that sound good but deserve scrutiny

"It will save me tax"

This is the most dangerous assumption a non-US founder can make. The idea that incorporating in the US and particularly through a Wyoming LLC or a Delaware holding structure, will reduce your overall tax burden is sometimes true and often completely wrong, depending on where you live, how you take income, and what your home country's rules are.

US C-corporations are taxed on worldwide income; foreign-owned entities, including foreign-owned LLCs and foreign corporations — are generally taxed only on US-connected income. That said, the US has an extensive network of anti-avoidance rules alongside its treaty network. And your home country almost certainly has its own rules about how it treats foreign entities that you control. Before you act on any tax planning advice involving US structures, you need advice from someone who understands both US tax and your home country tax. People who understand only one side of this equation give advice that is, at best, incomplete and, at worst, catastrophically wrong.

Warning: The single most common mistake non-US founders make is forming a US entity on tax advice that only considers US rules, without anyone checking what that structure means back home.

"Formation is fast and cheap, so why not?"

It is true that you can incorporate a Delaware LLC or C-Corp in 24 hours for a few hundred dollars. What this framing misses is that formation is the easy part. The ongoing compliance burden, such as federal tax filings, state filings, registered agent fees, annual reports, banking, bookkeeping, and the very real risk of penalties for missed filings, is where the cost lives. A US entity that you form and then manage carelessly can cost you tens of thousands of dollars in penalties, professional fees to fix the mess, and personal liability exposure if you have not maintained the corporate formalities correctly.

"My accountant at home can handle it"

Almost certainly, they cannot, or at least, not fully. US tax compliance for foreign-owned entities involves forms and rules that most non-US accountants have never encountered. Form 5472. Form 1120. Form 1040-NR. The Effectively Connected Income rules. The ETBUS test. Branch Profits Tax. These are not things that a generalist accountant in the UK, Canada, Australia, Germany, or most other countries encounters in their normal practice. You need a US-qualified professional for the US side of your compliance, even if you already have excellent advice at home.

2. When the US is NOT the Right Structure

Forming a US entity is not always the right answer. In some situations, it creates more problems than it solves, adds cost without adding value, or triggers tax consequences that make the structure inefficient. Here are the scenarios where you should think carefully before proceeding, or where an alternative structure might serve you better.

Your business has no meaningful US nexus

If you are not selling to US customers, not hiring US staff, not seeking US investment, and not holding US-based assets, a US entity may offer very little practical benefit. A US entity requires ongoing compliance, a registered agent, annual state fees, and federal tax filings, all of which cost time and money. If the only reason you are considering a US entity is that it sounds prestigious or that you vaguely think you might have US customers someday, that is probably not sufficient justification.

You are based in a high-tax country with aggressive CFC rules

If you are a tax resident of Germany, France, Australia, Canada, the UK, or a number of other high-tax jurisdictions, your home country likely has Controlled Foreign Corporation (CFC) rules, also called Controlled Foreign Company rules in some countries, that require you to include the income of certain foreign entities in your personal tax return, even if you do not actually distribute that income to yourself.

What this means in practice is that forming a US LLC or C-Corp may not defer your tax liability in the way you might hope. Where CFC rules apply, which typically requires meeting ownership thresholds and specific income tests, and which often exempts genuine active business income, your home country may require you to include the US entity's profits in your personal taxable income each year, regardless of whether you have moved any money. CFC treatment is not inevitable and depends heavily on the specific rules in your jurisdiction and the nature of your income, but the risk is real and frequently overlooked. The specifics vary significantly by country, and this is one of the areas where you most need country-specific advice. The general principle remains important: do not assume that incorporating offshore, including in the US, automatically protects you from home country tax.

Important: We cover how major home countries treat US entity income in detail in Part 12 of this guide. Before you form a US entity, that is required reading for your situation.

You need to work physically in the US

Owning a US business entity gives you no automatic right to live or work in the United States. The formation process is entirely separate from US immigration law. If you plan to be physically present in the US to run your business, so to attend meetings, manage staff, or conduct operations, you may need a visa that permits you to do that work. The wrong visa, or no visa, can result in deportation, a multi-year bar on re-entry, and serious legal consequences for your business. If your plan involves being in the US to work, the entity question and the immigration question must be addressed together, by professionals who understand both.

Your revenue will be entirely from non-US sources

If your customers are all outside the US and your operations are entirely outside the US, a US entity that passively holds assets or provides minimal services to the rest of your business may not generate what the IRS calls Effectively Connected Income, income that is connected to a US trade or business. This might mean your US tax obligations are limited, but it also raises the question of what the entity is actually achieving. A structure that exists primarily to look American without generating genuine US business activity can attract scrutiny from both the IRS and your home country tax authority.

Alternatives worth considering

Depending on your circumstances, the following alternatives may serve you better than a US entity, or may work well alongside one:

– A UK Ltd or Irish Limited Company — both offer strong English-language legal infrastructure, EU market access, and credibility with European and Commonwealth customers.

– A Singapore Pte Ltd — increasingly popular for Asian founders seeking a neutral holding jurisdiction with good banking access and a territorial tax system.

– A Canadian Corporation — useful for founders with Canadian customers or who spend significant time in Canada.

– A UAE Free Zone Company — for founders based in the UAE or targeting Middle Eastern markets, with significant tax advantages depending on your structure.

– An Estonian e-Residency company — practical for digital nomads and European-focused businesses, though its tax advantages are often overstated.

None of these alternatives is universally better than a US entity. The right choice depends on where your customers are, where you live, where you want to hire, and what your long-term plans are.

3. The Questions to Answer before you Incorporate

Before you form anything, you need honest answers to the following questions. Each one materially affects which entity type is right for you, what your tax obligations will be, and whether US incorporation makes sense at all.

Where will you work?

This question has two layers. The first is physical: will you be in the US, working from your home country, or moving between both? If you intend to work physically in the US, you may need a visa, and the type of visa you qualify for may constrain what kind of entity you can form and how you can pay yourself. If you will work entirely from your home country, your home country's rules about what income is taxable there, including income earned through a foreign (US) entity you control, become critically important.

The second layer is operational: where will the management and control of the business actually sit? This matters for tax residency of the entity itself. Most countries apply a concept of "place of effective management" or similar so if all the key decisions are being made by you, sitting in Germany or Australia or India, some of those countries may argue that your US entity is effectively a domestic entity for their tax purposes, regardless of where it is incorporated. This is a form of Permanent Establishment risk that we explore in more detail below.

Where are your customers?

This is the most direct driver of whether a US entity adds value. If your customers are in the US, a US entity makes your commercial life significantly easier. If your customers are in Europe, Asia, or elsewhere, the US structure adds compliance burden without much commercial benefit. If your customer base is split, you may need to think carefully about which entity is the primary contracting entity and which, if any, is a subsidiary or branch.

Do you need a US visa?

If any part of your business plan involves being physically present in the US, even for sales meetings, conferences, or operational oversight, you may need to understand which visa category covers what you intend to do and whether you qualify for it. Being in the US on a tourist visa or the Visa Waiver Program and doing substantive business work is not permitted, even if your company is American. Many founders are unaware of this until they encounter a problem at the border.

Practical note: Certain narrow business activities on a B-1 or Visa Waiver, so attending a trade show, negotiating a contract, or meeting with investors, are generally permissible, but the boundaries are strictly drawn. Activities such as managing operations, performing work for clients, or conducting hands-on business activity go beyond what these categories permit, even if done remotely on a laptop while physically in the US. When in doubt, get immigration advice before you travel, not after.

Will you hire US-based staff?

If yes, you may need a US entity, an EIN, a payroll setup, and compliance with federal and state employment law (or consider an Employer of Record - EOR). This is a significant operational commitment. You may need to register for payroll taxes in each state where your employees are based, withhold income tax and FICA contributions, potentially provide health insurance, and navigate the patchwork of state-level employment law that varies considerably between, for example, California and Texas. Part 10 of this guide covers US hiring in full detail.

Do you want VC funding?

If raising from US venture capital funds is part of your roadmap, the answer to almost every entity question seems to be: Delaware C-Corporation. If you form an LLC and then decide to raise a VC round, you may need to convert, which involves legal fees, tax considerations, and a period of administrative complexity. Doing it right from the start costs less.

How will you pay yourself?

This question sounds simple but it drives a significant number of structural decisions. The way you extract money from a US entity, being salary, distributions, dividends, management fees, loans, has different tax implications in the US and in your home country. Some extraction methods are more efficient than others depending on your entity type. Some require payroll infrastructure. Some trigger withholding tax. And some will be perfectly acceptable under US law but create unexpected taxable events in your home country. You need to think about this before you form the entity, not after.

Are you already running a business in your home country?

Many founders who incorporate in the US already operate a business.... a company, a sole proprietorship, or a partnership, in their home country. If so, you now have two entities, and the relationship between them matters enormously. How do they contract with each other? Who owns the intellectual property? How are intercompany transactions priced? These questions go to the heart of transfer pricing, and getting them wrong, even unintentionally, can result in significant penalties and back taxes in both jurisdictions. See also - Transfer Pricing for International Businesses: Why Documentation Matters Before $10M Revenue | Antravia Advisory

4. US Legal Presence vs US Tax Exposure

This is one of the most important concepts and one that many founders misunderstand until it causes them a real problem. Having a US legal presence, so a US entity, a US address, a US bank account, does not by itself determine your US tax exposure. And conversely, not having a US legal entity does not necessarily mean you have no US tax obligations. The two things are related but not identical, and conflating them is a source of significant confusion and costly mistakes.

What creates US tax exposure

US tax exposure for a non-resident is driven primarily by two things: the nature of your income and your connection to the US market.

Income that is Effectively Connected to a US Trade or Business, known as ECI, is taxed in the US at regular graduated or corporate rates, net of deductions, just as it would be for a US resident. To have ECI, you generally need to be "engaged in a trade or business in the United States", the ETBUS standard, which is determined by the facts and circumstances of your activities, not simply by whether you have a US entity.

Income that is not ECI but is sourced in the US, so dividends from US companies, interest on US bank accounts, rental income from US property, royalties for IP used in the US, is called FDAP income (Fixed, Determinable, Annual, or Periodic). FDAP income is generally subject to a flat 30% US withholding tax, unless reduced by a tax treaty between the US and your home country.

Key concept: ECI is taxed at regular rates on net income. FDAP is taxed at a flat gross rate. Whether your income is ECI or FDAP is one of the most consequential questions in your US tax position, and it is determined by your activities, not your entity type.

The ETBUS test — what triggers it

You are Engaged in a Trade or Business in the United States if you have a regular, continuous, and substantial business activity in the US. The IRS looks at the facts and circumstances. Having a US entity alone does not trigger ETBUS, but the following activities typically do (although review your business in detail):

– Having US-based employees who perform services for your business

– Maintaining a US office or fixed place of business that you regularly use

– Having a US agent who has authority to conclude contracts on your behalf

– Holding inventory in the US (including through Amazon FBA warehouses)

– Performing services in the US on a regular and continuous basis

Once you are determined to be ETBUS, your ECI is subject to US net income tax. This is often a good outcome, net of deductions, the effective rate may be quite manageable, but it also means filing US tax returns, maintaining US-standard books and records, and complying with all US reporting requirements.

What a US entity actually does

Forming a US LLC or C-Corp creates a US legal entity. It does not, by itself, create ECI or ETBUS status. What it does is create the vehicle through which US business can be conducted, and it comes with its own set of filing obligations regardless of whether that entity generates taxable income.

A single-member LLC owned by a non-US person is generally required to file a Form 5472 and a pro forma Form 1120 every year where reportable transactions exist. In practice, best practice is to file regardless, because the penalty for non-filing is severe: $25,000 per missed return, per year. The entity might have zero income and zero tax owed, and still face $25,000 in penalties if the form is not filed. This is a compliance obligation that exists simply because the entity exists, separate from any question of whether you owe tax.

Critical warning: The $25,000 Form 5472 penalty for non-filing applies regardless of whether the entity earned any income. It is one of the most common, and most expensive, mistakes made by foreign-owned US entities. Part 5 of this guide covers this in full.

Legal presence without tax exposure

It is possible, in limited circumstances, to have a US legal entity with minimal US tax exposure. A US LLC that conducts no US trade or business, generates only FDAP income, and has its treaty-reduced withholding rate at or near zero might owe very little in US tax, despite being a US entity. But it will still owe Form 5472 filing obligations. And its income will flow to the foreign owner who will then have obligations in your home country.

The key point: do not assume that "minimal US tax" means "no compliance obligations." They are different things.

Tax exposure without legal presence

The reverse is also possible. If you are a foreign seller with no US entity who stores inventory in US Amazon FBA warehouses, you may have ECI, income effectively connected to a US trade or business. Whether FBA inventory creates ETBUS status depends on the specific facts, including the nature and extent of your US activities, and this remains a debated area without a definitive IRS ruling. Many non-US Amazon sellers are unaware of the potential exposure, which means they may have US tax filing obligations they are not meeting. The absence of a US entity does not eliminate tax exposure, it just means there is no US entity framework to put it in. If you sell through FBA, this question deserves specific professional advice.

5. How Your Home Country Will Treat Your US Income

When you form a US entity and run a US business, the income you generate is not only relevant to the IRS. Your home country and wherever you are a tax resident, will have its own rules about how that income is taxed in your hands. And those rules vary enormously.

The fundamental principle: tax residency follows the person

In almost every country in the world, individuals pay tax based on where they live, not where their company is incorporated. If you are a tax resident of the UK, Canada, Australia, Germany, France, or most other developed countries, you are liable for domestic income tax on your worldwide income. This includes income from your US entity, whether or not you move it back to your home country.

How that income reaches you, and how it is taxed when it does, depends on three things: your entity type, the method of extraction you use (salary, distribution, dividend, management fee), and whether a tax treaty between the US and your home country affects the position.

LLC income: the transparency problem

A US LLC is, by default, a "pass-through" or "transparent" entity for US tax purposes, so its income flows through to the owner and is reported on the owner's tax return. But here is the problem: not every country treats a US LLC as transparent.

The United Kingdom, for example, treats most US LLCs as opaque entities and more like a corporation, for UK tax purposes. This creates a mismatch: the US treats the LLC as transparent (no entity-level tax, income flows to you directly), while the UK may treat it as opaque (income stays inside the entity until distributed). This mismatch has been the subject of significant litigation in the UK and has created substantial unexpected tax liabilities for founders who formed US LLCs without getting UK tax advice.

Canada, by contrast, generally follows the US classification of LLCs for Canadian tax purposes, treating them as transparent if that is how the US treats them. Australia, Germany, France, Israel, and other jurisdictions all have their own rules, some of which produce clean outcomes and some of which produce complications.

Important: Never assume that the tax treatment of your US entity in the US will be mirrored in your home country. The rules are different. The consequences of getting this wrong can be severe. Part 12 of this guide covers the home country treatment of US entities for the UK, Canada, Australia, Germany, France, UAE, India, Israel, Singapore, and Brazil.

CFC rules: when your home country taxes undistributed profits

Many high-tax countries have Controlled Foreign Corporation rules which designed to prevent residents from accumulating profits in low-tax foreign entities and deferring home country tax indefinitely. If your US entity qualifies as a CFC in your home country, you may be required to include its profits in your personal taxable income each year, regardless of whether you have taken any money out of the business.

Whether your US entity triggers CFC rules in your home country depends on factors including: the ownership percentage you hold, the type of income the entity earns (passive vs active), the effective tax rate in the US, and various anti-avoidance tests that differ by jurisdiction. This is a live issue for founders in the UK, Germany, Australia, Canada, and elsewhere who form US entities without accounting for it.

Tax treaties: protection with limits

The US has income tax treaties with many countries, covering the majority of the developed world, though notable gaps exist. These treaties generally reduce or eliminate double taxation by giving one country primary taxing rights over different categories of income. They also typically include provisions about Permanent Establishment, which affects when and whether your home country can tax income that your US entity earns.

However, tax treaties have important limits. They do not override all domestic anti-avoidance rules. They do not eliminate all reporting requirements. And they are subject to interpretation, by both countries, in ways that are not always predictable. A treaty that appears to protect a specific income stream may not do so if the relevant article has a Limitation on Benefits clause, or if the structure is viewed as treaty shopping.

The practical takeaway is this: tax treaties are a valuable tool, but they are a tool to be used with proper advice, not a blanket guarantee of freedom from home country tax on US income.

The Permanent Establishment problem in reverse

We have discussed Permanent Establishment in the context of your US activities creating exposure in the US. But the risk runs in both directions. If you are a non-US founder managing a US entity from your home country, your home country may argue that the US entity has a Permanent Establishment in your home country, because its effective management is located there, because its decisions are made there, or because you, as a director or manager, are performing the entity's core functions from within the home jurisdiction.

If that argument succeeds, the US entity's profits become taxable in your home country, in addition to whatever US obligations exist. This is a risk that increases with the level of management activity you conduct from home and decreases with genuine economic substance in the US, real employees, real office space, real operations.

This does not mean you cannot manage a US entity from abroad, millions of founders do. But it means you need to understand the risk, structure your affairs accordingly, and get advice that covers both jurisdictions.

6. Overview of the Full Journey

To close this first part of the guide, it is worth mapping the full journey that a non-US founder goes through when building a US business. Each of these stages is covered in depth in subsequent parts of this guide. The purpose of this overview is simply to show you the shape of the road ahead, so you can see where each decision fits, what depends on what, and how the pieces connect.

Stage 1: Structure and Entity Decision

Before you form anything, you decide on the right structure: entity type (LLC or C-Corp), state of formation (most likely Delaware, Wyoming, or your operating state), and how that US entity relates to any existing foreign entities you own. This is a decision that affects everything that follows, your tax obligations, your ability to raise investment, how you pay yourself, and your home country position. It deserves careful thought and proper advice.

Stage 2: Formation

Once you have made the structural decision, you form the entity. This involves filing with the state, obtaining an EIN from the IRS, setting up a registered agent, drafting the operating agreement or bylaws, and dealing with any immediately required registrations. For most founders, this stage takes one to four weeks and costs a few hundred to a few thousand dollars depending on the state and whether you use a professional service or attorney.

Stage 3: Banking and Financial Infrastructure

This is where many founders hit their first real obstacle. Opening a US business bank account as a foreign-owned entity is significantly harder than forming the entity. Banks have strict KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, and foreign-owned entities face heightened scrutiny. You will need to choose between traditional banks, fintech business accounts, and payment processors depending on your business type and transaction needs.

Stage 4: Tax and Compliance Setup

Once the entity is formed and banked, you need to set up your compliance infrastructure: bookkeeping, accounting software, payroll if applicable, sales tax registration if required, and an understanding of what federal and state filings you will need to make and when. This is the stage where many founders underinvest, and where the consequences emerge later in the form of penalties, back taxes, and stressful catch-up work.

Stage 5: Operations

Your business runs. Revenue comes in. Expenses go out. You pay yourself through the appropriate mechanism. You hire staff if needed. You manage your intercompany relationship with any foreign entities. You keep your books current, file your quarterly estimated taxes, and make sure your sales tax obligations are being met.

Stage 6: Annual Compliance

Every year, a set of filings are due. The exact list depends on your entity type and state, but for a typical foreign-owned US LLC it includes: Form 5472 and pro forma Form 1120 (federal), state annual report, and potentially Form 1040-NR if you have US-source income that requires personal reporting. For a C-Corp, the filing requirements are different and more extensive. Missing these filings is expensive. Meeting them consistently is how you keep the entity clean and your costs predictable.

Stage 7: Growth and Evolution

As your business grows, your structure may need to evolve. You may need to add employees in multiple states, creating new payroll and nexus obligations. You may need to raise investment, which may require converting from an LLC to a C-Corp. You may expand into other countries, creating new international tax considerations. You may sell the business, which triggers its own set of US and home country tax events.

The decisions you make at Stage 1 have a long tail. A structure that is well-designed from the start adapts to growth more smoothly and more cheaply than one that was formed quickly without thinking through the longer-term implications.

Before you move to Part 2

Part 2 of this guide covers the entity decision in depth, so the difference between LLCs and C-Corps, the tax rules that make each appropriate in different circumstances, state selection, and the specific forms and obligations that come with each structure.

Before you continue, take a moment to honestly assess where you stand on the questions raised in this part:

– Do you have a clear reason for forming a US entity — one that goes beyond "it sounds like a good idea"?

– Do you understand whether your business model will generate ECI, FDAP income, or both?

– Have you consulted someone who understands your home country's rules about foreign entities, not just US formation rules?

– Do you know how you intend to pay yourself, and have you thought through the tax implications on both sides?

– If you need to be physically present in the US, do you have a clear plan for how you will be authorised to work there?

If you can answer yes to all of these, you are ready to move forward. If some of these are still open questions, the right time to resolve them is now and before you form anything, not after.

About Antravia Advisory

Antravia Advisory is a US-based tax and accounting advisory firm headquartered in Winter Park, Florida, operating nationally and internationally.

We advise international businesses entering the United States and complex US companies operating across multiple states, entities, and revenue structures. Our work spans advanced tax strategy, multi-state sales tax oversight, cross-border structuring, and high-level accounting architecture for e-commerce brands, subscription and SaaS businesses, platform-based models, and multi-entity groups.

We work with founders and leadership teams who require technical precision, structural clarity, and financial frameworks built for scale, capital events, and long-term resilience.

Disclaimer:
Content published by Antravia is provided for informational purposes only and reflects research, industry analysis, and our professional perspective. It does not constitute legal, tax, or accounting advice. Regulations vary by jurisdiction, and individual circumstances differ. Readers should seek advice from a qualified professional before making decisions that could affect their business.

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