3 Canadian residents run a UK entity that sells widgets B2B. The UK entity is expanding into the US. The 3 partners have 50% of the US entity and the UK entity holds the other 50%.
The inventory is sold from the UK entity to the US entity. Kicker - the inventory is stored in Canada.
How many different tax issues does this situation bring with it? I'm thinking customs duties, possible transfer pricing, sales tax for the states, and then there's the income tax itself.
Anyone run into a similar situation before?
The inventory is sold from the UK entity to the US entity. Kicker - the inventory is stored in Canada.
How many different tax issues does this situation bring with it? I'm thinking customs duties, possible transfer pricing, sales tax for the states, and then there's the income tax itself.
Anyone run into a similar situation before?