Thank you very much for the information.
In order to avoid double taxation I really want to go for an S Corporation. But from most of the postings I found that on EAD I can not have S-Corporation. Is that right?
Thank you
Stop suggesting incorrect informations.You need to have GC to start S-Corporation.
My statement that one needs GC before incorporating S-Corp is based on professional opinion I received before I opted for LLC formation in Texas when I was on EAD.Stop suggesting incorrect informations.
Only United States citizens and resident aliens may own an S Corporation .Other entities generally may not own an S Corporation. Now tell us what is your source for disputing my statement!
I know I was a resident alien for tax purposes when I was on EAD. But whether that was good enough for starting a S-Corp or a GC is required was the question!Lot of people forget that there are two different entities in US for immigrants. One is CIS & IRS. Paychecks, Credit Cards, Bank Accounts, IRA's, 401K's, Businesses and lot more come under IRS regulations. I saw a lot of places in this business forum giving wrong information about starting an S-Corporation.
Professionals such as lawyers/CPA's may not understand the true meaning of residents. I have a lot of people who hod an S-Corporation on EAD.
Please see the beolow link for more info.
http://immigrationportal.com/showpost.php?p=1264689&postcount=17
So save your money by starting S-Corp instead of getting double taxed with C-Corp.