485 and Software Consulting Firm Question...Urgent

G

GC12301975

Registered Users (C)
HI All,

Two questions please......

1. whats happening with EB3/India GC filers? what are the 485 processing dates for EB3/India - Vermont center?


2. I am planning to register a software consulting firm (LLC) on my name but I am still on H1. I am neither a Green card holder nor a Citizen. I have a valid H1 visa and Adjust of Status (140 approved and I-485 filed concurrently ). Is it legal to register the company on my name?

Any helpful info on the above two questions is really appreciated.
 
>> 1. whats happening with EB3/India GC filers? what are the 485 processing dates for EB3/India - Vermont center?



Use this link for official processing time

https://egov.immigration.gov/cris/jsps/ptimes.jsp



>> 2. I am planning to register a software consulting firm (LLC) on my name but I am still on H1. I am neither a Green card holder nor a Citizen. I have a valid H1 visa and Adjust of Status (140 approved and I-485 filed concurrently ). Is it legal to register the company on my name?


I believe it doesn't matter that your 485 is pending , If you have your SS# you can register C-Corporation with no issue. (also check with any corp-attorney/accountant firm. If you like to contact a helpful fourm member here his nick name is "Unitednations" I believe he is in accountcy related field and running A/c firm, call him ask him ny.united@gmail.com 614 416 6722)


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A C corporation is a form of corporation that meets the IRS requirements to be taxed under Subchapter C of the Internal Revenue Code. It is also known as "C corporation" or "C-Corp". Most major companies are incorporated under a C corporation. After the corporation is created it becomes its own entity and has an indefinate lifespan as long as the yearly filing fee is paid.

Contents [hide]
1 C Corporation vs. S corporation
2 Steps to forming a C corporation
3 Taxable Income list
4 Resources
5 See Also
6 External links




C Corporation vs. S corporation
The main differences between S and C lie in the fact that a C corporation is taxed a Federal Corporate Income tax (see table below) whereas an S corporation is not. It may also have an unlimited amount of shareholders unlike S corporations.


Steps to forming a C corporation
1. Choose an available business name that complies with your state's corporation rules.
2. Appoint the initial directors of your corporation.
3. File formal paperwork, usually called "articles of incorporation," and pay a filing fee that ranges from $100 to $800, depending on the state where you incorporate.
4. Create corporate "bylaws," which lay out the operating rules for your corporation.


Taxable Income list
Amount Tax Rate Deduction
0 to 50,000 15% 0
50,000 to 75,000 25% 5,000
75,000 to 100,000 34% 11,750
100,000 to 335,000 39% 16,750
335,000 to 10,000,000 34% 0
10,000,000 to 15,000,000 35% 100,000
15,000,000 to 18,333,333 38% 550,000
18,333,333 and up 35% 0


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Hope this would help,

Good Luck and smile :D
 
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Could some one post more info about establishing a c-corp while on H1 visa. I have been through many web sites and it is not clear anywhere. Some attorneys are saying it as legal and some are saying it as illegal to have any other income other than H1 based company income.

Any replies are really appreciated.
 
A company is just an asset. on H1 you can own assets such as a car, a house, stocks, a company. But you cannot do any work for the company such as being a CEO, president, manager, programmer or marketer. You can hire someone else to run the company and receive profits. Income from profit is like income from stock dividend. it's ok.

But if you start managing company affairs, you'll get into trouble. Just be a silent/general partner.
 
I don't know how it works if you register the company in India. that way you are not earning income from another US employer. Eg: If you do sales and marketing for your Indian company and draw a salary in India, does that violate H1 rules?

I don't see how, but can someone knowledgeable enlighten us?
 
emailraja said:
I don't know how it works if you register the company in India. that way you are not earning income from another US employer. Eg: If you do sales and marketing for your Indian company and draw a salary in India, does that violate H1 rules?

I don't see how, but can someone knowledgeable enlighten us?
Click to expand...


Don't think so. Because
1) you have a primary employer in US
2) You are not displacing a US citizen/permanent resident's job. But INS may ask proof that the customers are also based in India. Otherwise, it'd be a crap-shoot.
 
HI emailraja,

What does that mean? A silent partner???? Does it mean that my name should not appear anywhere in the company documents and should not hold any position like president or Director? If so, How will I register the company and on whose name will I register the company?
 
president or Director?

I would suggest that first get the GC then think about company
'president or Director'.
Ok. It may screw up. Shut your mouth and pray the god for GC
 
Silent partner ?

GC12301975 ,

Silent partner means that ‘Silently screw up your wife’.
Water is right in that topic.
Do your work!
 
Definition for 'Silent partner'

thats good one

GC_narayan GC12301975 ,

Silent partner means that ‘Silently screw up your wife’.
Water is right in that topic.
Do your work!
 
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