H1b and state tax

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bassan

Registered Users (C)
Hello friends,

I'm on H1b visa & working for ABC company. I have recently opened a small business.
So I need to know whether I need to apply for STATE SALES TAX AND FEDERAL SALES TAX ALSO.
I'm confused. Please help me.

The employee who is working for me is a green card holder, so do I have to send some report to INS about it. Please let me whenever you guys have some time

Thanks in advance for your help.
 
STATE SALES TAX and H1b visa

Thanks for replying my email.

But I'm still having few doubts sir/madam,

I'm on H1b visa & opened a shop on my name, using my SSN. I'm not working for this shop because I do not hold H1b visa for this shop.

I have employed a green card holder to work for my shop.

But my question is :-

1. How a businessman (me) get TIN #?
2. How about sales tax/federal tax? Dont you think I have to pay the taxes because all these items are bought by me only. The green card holder is just an employee working for my shop but I'm providing him all the stuff.
So my question is, dont I have to pay the sales tax to state for having business here on my name.
What if I get profit in my business. What to do with the profit?
PLease suggest me, what all formalities would be required from my part to be legal enough in having a business.
3. Suggest me whether I should use my SSN or TIN # for the business.

Thanks in advance for your reply
 
business on H1b visa

So you guys are suggesting me that I cannot have a business license on my name because I'm on h1b visa?

2. So whose name would come on business license, business account number?

3. Who will be paying to my employee? I'm the only one employer of this shop. & I have only one employee who's a green card holder. So, dont you think I will be paying his monthly salary?

4. What about the company's annual tax? Who will take care of that part?

There's only two people in this shop. One is me, employer, one is my employee.
NOw suggest me,
what all works I could do legally for the shop?

I'm completely lost. My accountant doesnt know much about H1b visa issues. So please help me.
 
business on H1b visa

Thanks for your detailed answers.
Things are entering in my brain now.

But sir, one last time I want to bug you.

As I said earlier, I have a employee who is taking care of my shop. So can he become the manager, takes care of taxes, buying, selling etc.?
Because I dont have so much of money to hire another one for manager post.

So my question is,
1. if the only investor, then i person(USA citizen) who is working for my shop an become the care taker of the shop?

Please suggest.
 
business on H1b visa

You are right. I have taken an appointment with my lawyer now.

But you are also playing a very important & helpful role in solving my silly queries sir.

So, now when you said, my manager can manage everything so it means he can give salary to himself also? right? because as i said he is only employee of the shop. so when managing the complete business, he can manage his salary also. Right?

And when you said ,"He would also be the one who handles the business bank account"
so what do you suggest on this from the following two options :-

1. is the following two question matters?
2. Is the following two questions have different impact on the annual tax return(business/personal)?
1. Open a business account on his name using his SSN?
2. Open a business account on business name using state taxid?
 
Joef,

You are being very helpful to me since I started asking the questions. I'm really thankful to you.

You know thats why we like this site because people like you are there to help us.

Thanks so much
Regards
Roop
 
Starting

What I know is that you can start a company on H1B. But you cant work for it and get a salary. You cant even get a H1B sponsorship from that company. By saying that you can register and get a TIN for your company. This means you are more than an Invester. To make the things simple just contact the Small Business center in your county and ask them. Tell them that you are on H1b and would like to register a company and have a TIN. Their answers will clear your doubts. Being on H1 and having income from any other source can get you into trouble. You can always get ROI whether this is stocks or investment in another member/partner based companies.
 
Bassan- I am unable to find an answer to your replies

Hello Bassan,

I would want to know if you could find the answer to your questions about taxes and stuff?

Please reply back.

Thanks,
Kankani
 
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