Me again with the boring, but important business questions (Please help)
Hi all
Please can someone help? I’m stuck
Has anyone registered on Valve recently as a private company?
I’m unsure on what to select on two sections under the tax interview section as they do not list private companies as an option.
(I have a registered company and an EIN nr for that company from the IRS)
At the start of the tax interview under "Registering as" they have:
Individual/ Sole Proprietor or single member LLC (Limited Liability Company)
And
Corporation, trust, Partnership or LLC
What does a Private SA Company fall under?
Then a bit later there is a question
Type of beneficial owner:
With several options
Tax-exempt organization
Corporation
Disregarded entity
Partnership
Simple trust
Private foundation
Etc.
No mention of Private companies.
From what I can tell and have read so far we need to select corporation", but don’t want to do this if I’m not 100%."
I would be very grateful is if someone could clear that up for me and it would help others that still need to go through this
Thank you
Please can someone help? I’m stuck
Has anyone registered on Valve recently as a private company?
I’m unsure on what to select on two sections under the tax interview section as they do not list private companies as an option.
(I have a registered company and an EIN nr for that company from the IRS)
At the start of the tax interview under "Registering as" they have:
Individual/ Sole Proprietor or single member LLC (Limited Liability Company)
And
Corporation, trust, Partnership or LLC
What does a Private SA Company fall under?
Then a bit later there is a question
Type of beneficial owner:
With several options
Tax-exempt organization
Corporation
Disregarded entity
Partnership
Simple trust
Private foundation
Etc.
No mention of Private companies.
From what I can tell and have read so far we need to select corporation", but don’t want to do this if I’m not 100%."
I would be very grateful is if someone could clear that up for me and it would help others that still need to go through this
Thank you
Comments
For a PTY LTD (not sure if that is the same you are talking about, the correct answer is "Corporation".
And for one of the later questions, you need to select:
"'The beneficial owner derives the item (or items) of income for which the treaty benefits are claimed and, if applicable, meets the requirements of the treaty provision dealing with limitation on benefits."
And then for the follow-on tests question:
"Company with an item of income that meets active trade or business test"
Disclaimer: These were correct for me according to a local accountant specializing in international tax law. But it might not be right for you.