gc_maine2
04-04 10:27 AM
:confused::confused:
I am excerpting Internal Revenue Code Section 1361 below:
Internal Revenue Code
� 1361 S corporation defined.
(a) S corporation defined.
(1) In general.
For purposes of this title, the term �S corporation� means, with respect to any taxable year, a small business corporation for which an election under section 1362(a) is in effect for such year.
(2) C corporation.
For purposes of this title, the term �C corporation� means, with respect to any taxable year, a corporation which is not an S corporation for such year.
(b) Small business corporation.
(1) In general.
For purposes of this subchapter, the term �small business corporation� means a domestic corporation which is not an ineligible corporation and which does not�
(A) have more than 100 shareholders,
(B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2) , or an organization described in subsection (c)(6) ) who is not an individual,
(C) have a nonresident alien as a shareholder, and
(D) have more than 1 class of stock.
(2) Ineligible corporation defined.
For purposes of paragraph (1) , the term �ineligible corporation� means any corporation which is�
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585 ,
(B) an insurance company subject to tax under subchapter L,
(C) a corporation to which an election under section 936 applies, or
(D) a DISC or former DISC.
There is no mention here that the "resident" must be a permanent resident.
Here is an excerpt of the Federal Regulation that defines who is a "resident alien" for taxation purposes:
Reg �1.871-2. Determining residence of alien individuals.
Caution: The Treasury has not yet amended Reg � 1.871-2 to reflect changes made by P.L. 108-357
(a) General. The term �nonresident alien individual� means an individual whose residence is not within the United States, and who is not a citizen of the United States. The term includes a nonresident alien fiduciary. For such purpose the term �fiduciary� shall have the meaning assigned to it by section 7701(a)(6) and the regulations in Part 301 of this chapter (Regulations on Procedure and Administration). For presumption as to an alien's nonresidence, see paragraph (b) of �1.871-4.
(b) Residence defined. An alien actually present in the United States who is not a mere transient or sojourner is a resident of the United States for purposes of the income tax. Whether he is a transient is determined by his intentions with regard to the length and nature of his stay. A mere floating intention, indefinite as to time, to return to another country is not sufficient to constitute him a transient. If he lives in the United States and has no definite intention as to his stay, he is a resident. One who comes to the United States for a definite purpose which in its nature may be promptly accomplished is a transient; but, if his purpose is of such a nature that an extended stay may be necessary for its accomplishment, and to that end the alien make his home temporarily in the United States, he becomes a resident, though it may be his intention at all times to return to his domicile abroad when the purpose for which he came has been consummated or abandoned. An alien whose stay in the United States is limited to a definite period by the immigration laws is not a resident of the United States within the meaning of this section, in the absence of exceptional circumstances.
Here is the relevant Federal Regulation on Proof of Residence for determining status for tax purposes:
Reg �1.871-4. Proof of residence of aliens.
(a) Rules of evidence. The following rules of evidence shall govern in determining whether or not an alien within the United States has acquired residence therein for purposes of the income tax.
(b) Nonresidence presumed. An alien, by reason of his alienage, is presumed to be a nonresident alien.
(c) Presumption rebutted.
(1) Departing alien. In the case of an alien who presents himself for determination of tax liability before departure from the United States, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien, at least six months before the date he so presents himself, has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien, at least six months before the date he so presents himself, has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(2) Other aliens. In the case of other aliens, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(d) Certificate. If, in the application of paragraphs (c)(1)(iii) or (2)(iii) of this section, the internal revenue officer or employee who examines the alien is in doubt as to the facts, such officer or employee may, to assist him in determining the facts, require a certificate or certificates setting forth the facts relied upon by the alien seeking to overcome the presumption. Each such certificate, which shall contain, or be verified by, a written declaration that it is made under the penalties of perjury, shall be executed by some credible person or persons, other than the alien and members of his family, who have known the alien at least six months before the date of execution of the certificate or certificates.
(c) Application and effective dates. Unless the context indicates otherwise, ��1.871-2 through 1.871-5 apply to determine the residence of aliens for taxable years beginning before January 1, 1985. To determine the residence of aliens for taxable years beginning after December 31, 1984, see section 7701(b) and ��301.7701(b)-1 through 301.7701(b)-9 of this chapter. However, for purposes of determining whether an individual is a qualified individual under section 911(d)(1)(A), the rules of ��1.871-2 and 1.871-5 shall continue to apply for taxable years beginning after December 31, 1984. For purposes of determining whether an individual is a resident of the United States for estate and gift tax purposes, see �20.0-1(b)(1) and (2) and � 25.2501-1(b) of this chapter, respectively.
In summary, I submit to you that if you work in the US for more than 6 months out of a given year, you are a resident alien, and therefore are eligible to set up an S-Corp.
Since I am still learning about this, any input/feedback/logical arguments with relevant proof/citations would be appreciated!
Very good info, thanks for the posting. BUt its still not clear whether the spouse who is on EAD and does not work at all or for that matter 6 months in a given year, will she/he be eligible for setting up a S -corp??
Thanks
sree
I am excerpting Internal Revenue Code Section 1361 below:
Internal Revenue Code
� 1361 S corporation defined.
(a) S corporation defined.
(1) In general.
For purposes of this title, the term �S corporation� means, with respect to any taxable year, a small business corporation for which an election under section 1362(a) is in effect for such year.
(2) C corporation.
For purposes of this title, the term �C corporation� means, with respect to any taxable year, a corporation which is not an S corporation for such year.
(b) Small business corporation.
(1) In general.
For purposes of this subchapter, the term �small business corporation� means a domestic corporation which is not an ineligible corporation and which does not�
(A) have more than 100 shareholders,
(B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2) , or an organization described in subsection (c)(6) ) who is not an individual,
(C) have a nonresident alien as a shareholder, and
(D) have more than 1 class of stock.
(2) Ineligible corporation defined.
For purposes of paragraph (1) , the term �ineligible corporation� means any corporation which is�
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585 ,
(B) an insurance company subject to tax under subchapter L,
(C) a corporation to which an election under section 936 applies, or
(D) a DISC or former DISC.
There is no mention here that the "resident" must be a permanent resident.
Here is an excerpt of the Federal Regulation that defines who is a "resident alien" for taxation purposes:
Reg �1.871-2. Determining residence of alien individuals.
Caution: The Treasury has not yet amended Reg � 1.871-2 to reflect changes made by P.L. 108-357
(a) General. The term �nonresident alien individual� means an individual whose residence is not within the United States, and who is not a citizen of the United States. The term includes a nonresident alien fiduciary. For such purpose the term �fiduciary� shall have the meaning assigned to it by section 7701(a)(6) and the regulations in Part 301 of this chapter (Regulations on Procedure and Administration). For presumption as to an alien's nonresidence, see paragraph (b) of �1.871-4.
(b) Residence defined. An alien actually present in the United States who is not a mere transient or sojourner is a resident of the United States for purposes of the income tax. Whether he is a transient is determined by his intentions with regard to the length and nature of his stay. A mere floating intention, indefinite as to time, to return to another country is not sufficient to constitute him a transient. If he lives in the United States and has no definite intention as to his stay, he is a resident. One who comes to the United States for a definite purpose which in its nature may be promptly accomplished is a transient; but, if his purpose is of such a nature that an extended stay may be necessary for its accomplishment, and to that end the alien make his home temporarily in the United States, he becomes a resident, though it may be his intention at all times to return to his domicile abroad when the purpose for which he came has been consummated or abandoned. An alien whose stay in the United States is limited to a definite period by the immigration laws is not a resident of the United States within the meaning of this section, in the absence of exceptional circumstances.
Here is the relevant Federal Regulation on Proof of Residence for determining status for tax purposes:
Reg �1.871-4. Proof of residence of aliens.
(a) Rules of evidence. The following rules of evidence shall govern in determining whether or not an alien within the United States has acquired residence therein for purposes of the income tax.
(b) Nonresidence presumed. An alien, by reason of his alienage, is presumed to be a nonresident alien.
(c) Presumption rebutted.
(1) Departing alien. In the case of an alien who presents himself for determination of tax liability before departure from the United States, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien, at least six months before the date he so presents himself, has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien, at least six months before the date he so presents himself, has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(2) Other aliens. In the case of other aliens, the presumption as to the alien's nonresidence may be overcome by proof�
(i) That the alien has filed a declaration of his intention to become a citizen of the United States under the naturalization laws; or
(ii) That the alien has filed Form 1078 or its equivalent; or
(iii) Of acts and statements of the alien showing a definite intention to acquire residence in the United States or showing that his stay in the United States has been of such an extended nature as to constitute him a resident.
(d) Certificate. If, in the application of paragraphs (c)(1)(iii) or (2)(iii) of this section, the internal revenue officer or employee who examines the alien is in doubt as to the facts, such officer or employee may, to assist him in determining the facts, require a certificate or certificates setting forth the facts relied upon by the alien seeking to overcome the presumption. Each such certificate, which shall contain, or be verified by, a written declaration that it is made under the penalties of perjury, shall be executed by some credible person or persons, other than the alien and members of his family, who have known the alien at least six months before the date of execution of the certificate or certificates.
(c) Application and effective dates. Unless the context indicates otherwise, ��1.871-2 through 1.871-5 apply to determine the residence of aliens for taxable years beginning before January 1, 1985. To determine the residence of aliens for taxable years beginning after December 31, 1984, see section 7701(b) and ��301.7701(b)-1 through 301.7701(b)-9 of this chapter. However, for purposes of determining whether an individual is a qualified individual under section 911(d)(1)(A), the rules of ��1.871-2 and 1.871-5 shall continue to apply for taxable years beginning after December 31, 1984. For purposes of determining whether an individual is a resident of the United States for estate and gift tax purposes, see �20.0-1(b)(1) and (2) and � 25.2501-1(b) of this chapter, respectively.
In summary, I submit to you that if you work in the US for more than 6 months out of a given year, you are a resident alien, and therefore are eligible to set up an S-Corp.
Since I am still learning about this, any input/feedback/logical arguments with relevant proof/citations would be appreciated!
Very good info, thanks for the posting. BUt its still not clear whether the spouse who is on EAD and does not work at all or for that matter 6 months in a given year, will she/he be eligible for setting up a S -corp??
Thanks
sree
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ashutrip
06-20 10:21 AM
My employer is a big wall street investment bank, and they have filed my PERM on May 14th.
The trend for PERM certification at Atlanta, as per my employer is between 90-120 days. Because they handled so many PERM cases at Atlanta, they know this trend.
Nothing muck we can do here. Just pray and hope for the best.
enough of america....:mad: :mad: :mad: I am moving to UAE.....two hrs journey to goa India....no Income Tax:p :p :)
The trend for PERM certification at Atlanta, as per my employer is between 90-120 days. Because they handled so many PERM cases at Atlanta, they know this trend.
Nothing muck we can do here. Just pray and hope for the best.
enough of america....:mad: :mad: :mad: I am moving to UAE.....two hrs journey to goa India....no Income Tax:p :p :)
claudia255
04-30 10:42 PM
I emailed the partial recording to all those who PMed me for it ...
Enjoy the Comedy Central channel....
Would it possible to have the link for the video please?
Thanks.
Enjoy the Comedy Central channel....
Would it possible to have the link for the video please?
Thanks.
2011 Model Bar Refaeli - 2010
Milind123
09-16 03:56 PM
Come on people only 11 shots to be fired. (I will take one shot, two already fired). The next person who will pull the trigger is probably a jovial person. He/she has contributed before or will contribute for the first time. He/she thinks we are a bunch of serious people, who will get the job done, but too serious for his/her company.
That is not the case at all. To prove it, here is a joke for you, to make you pull the trigger, amused and probably laughing.
Note: It is impossible to crack a joke and make everyone laughs. Invariably it is offensive to someone. I hope it is not the case here. Also, not everyone likes a particular joke; well the objective here is to make only one person laugh (enough to go to google and pull the trigger). You may have already heard it, but I found it funny. If I don�t get contributions for this one; that�s fine, I won�t try again; this will be the last joke I will post. (I don�t want to scare you away).
An old lady takes the limp body of her rabbit to the vet. She pleads to the Dr �Please please take a look at my dear Pilu. He is not responding at all�. The Dr goes and checks the poor rabbit. �Sorry! But your Pilu is dead�. �No it can�t be the case, help me, help me, please do something�. The Dr says OK and blows a whistle. A cat come and gets on top of the table where Pilu�s body is lying�. She sniffs the body from top to bottom and shakes her head and leaves the room. The dr looks at the old lady and shakes his head too. Old lady protests and says the dr is not doing a good enough job. The Dr again whistles and in comes a Labrador Retriever. The dog also check Pilu and declares that the rabbit is dead. �How much� the lady asks the dr holding Pilu very close to her chest. �$250� the Dr replies.�WHAT $250 TO TELL ME THAT MY DEAR PILU IS NO MORE�. The dr replies back in a very calm tone �it would have cost you 50 when I told you, but you were not convinced and I had to run a lab report and do a cat scam. $100 each�
That is not the case at all. To prove it, here is a joke for you, to make you pull the trigger, amused and probably laughing.
Note: It is impossible to crack a joke and make everyone laughs. Invariably it is offensive to someone. I hope it is not the case here. Also, not everyone likes a particular joke; well the objective here is to make only one person laugh (enough to go to google and pull the trigger). You may have already heard it, but I found it funny. If I don�t get contributions for this one; that�s fine, I won�t try again; this will be the last joke I will post. (I don�t want to scare you away).
An old lady takes the limp body of her rabbit to the vet. She pleads to the Dr �Please please take a look at my dear Pilu. He is not responding at all�. The Dr goes and checks the poor rabbit. �Sorry! But your Pilu is dead�. �No it can�t be the case, help me, help me, please do something�. The Dr says OK and blows a whistle. A cat come and gets on top of the table where Pilu�s body is lying�. She sniffs the body from top to bottom and shakes her head and leaves the room. The dr looks at the old lady and shakes his head too. Old lady protests and says the dr is not doing a good enough job. The Dr again whistles and in comes a Labrador Retriever. The dog also check Pilu and declares that the rabbit is dead. �How much� the lady asks the dr holding Pilu very close to her chest. �$250� the Dr replies.�WHAT $250 TO TELL ME THAT MY DEAR PILU IS NO MORE�. The dr replies back in a very calm tone �it would have cost you 50 when I told you, but you were not convinced and I had to run a lab report and do a cat scam. $100 each�
more...
gc_check
01-07 02:45 PM
Finally, BOA approved your loan or not. I am in exact same situation as you & they have denied my refinance.
No, I was not successful in getting loan approved from BOA last year when I was looking for re-fi. I was too busy with work and other issues and had less time to follow-up and trying to convince/educate them on EAD,etc.. and wasn't sure, If I could. Since mine was a re-fi and the current loan is already in a better rate, I did not take the effort to purse further.
No, I was not successful in getting loan approved from BOA last year when I was looking for re-fi. I was too busy with work and other issues and had less time to follow-up and trying to convince/educate them on EAD,etc.. and wasn't sure, If I could. Since mine was a re-fi and the current loan is already in a better rate, I did not take the effort to purse further.
lonedesi
07-11 08:49 AM
I congratulate everyone whoes PD becomes current beginning of next month. But be aware that all of this is no good until USCIS acts on it. USCIS has to match and increase their pace of processing I-140 & I-485s for people to benefit of this movement. There are thousands of people whose PD have been current since April of this year and still they see no movement on their cases. PD becoming current is just the first & crucial step in this long process, but now it all depends on how well USCIS responds by processing cases in FIFO manner.
more...
balakot
02-18 02:43 PM
Look's like the DOS is trying to maintain a year difference in the priority dates for EB2-I and EB2-C.
My guess for the April 2009 Visa Bulliten is April 1st 2004 for EB2-I and April 1st 2005 for EB2-China.
My guess for the April 2009 Visa Bulliten is April 1st 2004 for EB2-I and April 1st 2005 for EB2-China.
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tsnaresh
07-15 10:32 PM
Keep up the good work!!! I have just sent a check for $50 online.
Thanks
Thanks
more...
GC_1200
09-10 04:55 PM
Contributed $100 via Google checkout.
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eb3_nepa
07-14 02:29 PM
Dear IVians
Please make it happen. Just $5 will never hurt anybody's economy / budget.
I wanted to cover 9 more souls if there is any acute shortage of even $5 (not to offend anyone), hence sent a check for $50
Suport IV
Satya
Excellent job Satya. People please learn from Satya's example.
Please contribute $5 for yourself and $5 for your spouse. NO other website asks for donations as low as $5.
Please make it happen. Just $5 will never hurt anybody's economy / budget.
I wanted to cover 9 more souls if there is any acute shortage of even $5 (not to offend anyone), hence sent a check for $50
Suport IV
Satya
Excellent job Satya. People please learn from Satya's example.
Please contribute $5 for yourself and $5 for your spouse. NO other website asks for donations as low as $5.
more...
looneytunezez
05-19 07:49 PM
Congrats...
FINAL UPDATE
HURRAHHHHHHHHHHHHHHHHHHHH
My I-485 case got reopened after being in denial status for three months............ My attorney got a letter from USCIS.
::::::::::::::::::To recap::::::::::::::
I went to the Congressional office on 05/14/2009 morning.
Congressional office made a call to Nebraska Service Center regarding the case on the same day afternoon (05/14/2009 afternoon)
USCIS sent letter to my attorney on Friday (05/15/2009).
My attorney received it this morning (05/19/2009).
Looks like magic........Whoever has been working on my case from the past three months made a huge reversal decision in just a few hours on 05/14/2009 afternoon with atmost attention........I like this sudden surge in commitment and care on my case.......
Here is the wording:
Quote""""""""""""""""""""""""
Reference is made to the Notice of Appeal or Motion (Form I-290B) filed on April 23, 2009. You are seeking reopen the decision rendered by USCIS on February 17, 2009, denying application filed by you.
The motion as submitted has been reviewed. It meets the requirements of Title 8, COde of Federal Regulations, $103.5 concerning the proper filing of a motion. Accordingly, the request to reopen the previous decision will be and is hereby granted.
The facts and issues in this matter were properly discussed in the decision, supra, and need not be repeated here as they are a matter of record.
After a complete review of the record of proceedings, including your motion, the grounds for denial have been overcome.
The application will be reopened and the processing continued. Once the processing is completed, you will receive a notice under separate cover.
Sincerely
"""""""""""""""""""""""""""""""""""""Unquote
FINAL UPDATE
HURRAHHHHHHHHHHHHHHHHHHHH
My I-485 case got reopened after being in denial status for three months............ My attorney got a letter from USCIS.
::::::::::::::::::To recap::::::::::::::
I went to the Congressional office on 05/14/2009 morning.
Congressional office made a call to Nebraska Service Center regarding the case on the same day afternoon (05/14/2009 afternoon)
USCIS sent letter to my attorney on Friday (05/15/2009).
My attorney received it this morning (05/19/2009).
Looks like magic........Whoever has been working on my case from the past three months made a huge reversal decision in just a few hours on 05/14/2009 afternoon with atmost attention........I like this sudden surge in commitment and care on my case.......
Here is the wording:
Quote""""""""""""""""""""""""
Reference is made to the Notice of Appeal or Motion (Form I-290B) filed on April 23, 2009. You are seeking reopen the decision rendered by USCIS on February 17, 2009, denying application filed by you.
The motion as submitted has been reviewed. It meets the requirements of Title 8, COde of Federal Regulations, $103.5 concerning the proper filing of a motion. Accordingly, the request to reopen the previous decision will be and is hereby granted.
The facts and issues in this matter were properly discussed in the decision, supra, and need not be repeated here as they are a matter of record.
After a complete review of the record of proceedings, including your motion, the grounds for denial have been overcome.
The application will be reopened and the processing continued. Once the processing is completed, you will receive a notice under separate cover.
Sincerely
"""""""""""""""""""""""""""""""""""""Unquote
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nomad
09-13 01:34 AM
Just contributed one time $100 thru' paypal.
Web Accept Payment Sent (ID # 3BC32596YD273123L)
Web Accept Payment Sent (ID # 3BC32596YD273123L)
more...
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laborchic
05-06 11:55 AM
Called first 7 from the list
Brown, Gregg, Lugar, Enzi, Graham, Hatch Cornyn, Kyl
Will try to get to the rest of them later in the day.
Brown, Gregg, Lugar, Enzi, Graham, Hatch Cornyn, Kyl
Will try to get to the rest of them later in the day.
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jonty_11
07-05 12:58 PM
I used AILA site to send the mail. May be some one else provide the email info. Thanks
Email and Web Forms of all US SEnators
http://www.senate.gov/general/contact_information/senators_cfm.cfm
Take some time to send the message on Page 1 of this thread.
Email and Web Forms of all US SEnators
http://www.senate.gov/general/contact_information/senators_cfm.cfm
Take some time to send the message on Page 1 of this thread.
more...
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kevinkris
09-12 05:13 PM
Hi All,
Lots of people agreeing.
singhsa3, since you started it, finalize on what we all need to do.
Thanks
Lots of people agreeing.
singhsa3, since you started it, finalize on what we all need to do.
Thanks
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conchshell
07-11 10:46 AM
I have expected EB2 India would move Fast but I didnt expect it would move like Super Fast. Really good for EB2. But the thing infront of us now is to work for EB3 INDIA and EB3 ROW.
vdlrao, I was always impressed with your calculation that you presented before July Visa bulletin, however it seems to good to be true. But it seems your estimation and prediction were on a correct track.:)
vdlrao, I was always impressed with your calculation that you presented before July Visa bulletin, however it seems to good to be true. But it seems your estimation and prediction were on a correct track.:)
more...
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perm
07-20 04:09 PM
this is not over
2. Durbin was the man again...that derailed us.
can't expect anything better from him. i had sent an fax to him for some drive and he replied back with his propanganda of no child left behind of something like that.
2. Durbin was the man again...that derailed us.
can't expect anything better from him. i had sent an fax to him for some drive and he replied back with his propanganda of no child left behind of something like that.
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Jimi_Hendrix
12-12 07:13 PM
We are in successful talk with an Associated Press reporter who is interested in writing about our problems. I am planning to schedule a meeting with this reporter in firsts week of January based on her availability.
It is a small win.
It is a small win.
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vayumahesh
10-29 10:48 AM
Hi 9Years,
Do you see any LUD update on your I-485 case ? I think when I-140 was approved and EB3 date got ported, USCIS may have touched the I-485 application.
Do you see any LUD update on your I-485 case ? I think when I-140 was approved and EB3 date got ported, USCIS may have touched the I-485 application.
rajvepa
07-15 01:12 PM
Just posted check for $25
skv
08-12 05:35 PM
I meant :
We have to take some risk, if we want some progress on our I-140 cases. :-)
Good night folks!
We have to take some risk, if we want some progress on our I-140 cases. :-)
Good night folks!
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