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Myth of Fact. Do Foreigners have a business in the U.S. tax free for so many years.


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Myth of Fact. Do Foreigners have a business in the U.S.... - 11/13/2008 11:36:40 PM   
ElectraGlide


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Joined: 11/25/2005
From: Maryland
Status: offline 		Myth of Fact. Do Foreigners have a business in the U.S. tax free for so many years. Every time a person from India buys the local Gas Station Convenience store, some one says they get to have that place for X amount of years tax free, then he signs it over to his brother and he gets to be tax free. I have heard it was 5 years or 6 or 7. I am not complaining, but no one can prove it to me. Maybe it is true, just because someone said someone told them is not good enough facts for me. Does anyone know if it is true, because they work for the Government and know of the documents that prove it, or are a Foreigner owning a buisiness. I have got the people telling me this story upset, because I simply asked, how do you know this, I am, not calling you a liar. They are just passing on what they hear.

< Message edited by ElectraGlide -- 11/13/2008 11:53:23 PM >

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 1:37:57 AM   
NuevaVida


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Joined: 8/5/2008
Status: offline 		No idea. My uncle (from Spain) had his own business here for years, and paid taxes regularly. His daughter, who moved to Spain a few years ago, worked from home there, and paid taxes to both countries - Spain and the US.

Here is a link to the IRS site, which has information on business taxes for resident aliens and non resident aliens in the U.S. I saw nothing on this link or in my Google search (limited as it was) which confirms the five year tax free law that you mentioned. I'm skeptical of its existence.

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 2:56:41 AM   
Dnomyar


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Joined: 6/27/2005
Status: offline 		Not true. Your paying taxes in one form or another on any busniess you own. If someone is running a scam where they are not paying taxes they will do prison time sooner or later.

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 9:29:25 AM   
ElectraGlide


Posts: 1246
Joined: 11/25/2005
From: Maryland
Status: offline 		Thanks Dnomyar and NuevaVida for your sensible replies. As far as the IRS link, I dont have the lawyer mentality to sort through that mumbo jumbo to make sense of it lol . It may just be a regional thing here, where everyone rants about foreigners getting a business. It could have a racist point of view. I have seen calm people get hot and their eyes bulge open and steam coming out of them when they explain the foreign tax exempt scenario. I think every time they are most likely getting upset about a myth for nothing, lol.

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 9:31:51 AM   
Dnomyar


Posts: 7933
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Status: offline 		Think of it as an "Urban Legend" type of thing.

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 9:36:03 AM   
LadyHibiscus


Posts: 27124
Joined: 8/15/2005
From: Island Of Misfit Toys
Status: offline 		I have only been a tax specialist for 17 years, so you might not want to believe me   but yes, all those stories about foreigners getting tax breaks are essentially anti-foreigner propaganda.  Do business in the USA, pay taxes to the USA.

I think that many look at the foreign owned businesses (often franchises) and say, How did they get the money?  Well, I'll tell you.  In other cultures, FAMILY is a word that means PEOPLE WHO SUPPORT EACH OTHER.  Everyone works, everyone chips in, everyone sacrifices.  It's not a lifestyle that guarantees self actualization, but it IS a way for a group of people to save money and earn more.  Americans don't do that kind of thing, and I don't believe Canadians do either. 

Are there ways of moving ownership around, and screwing with the tax laws?  Absolutely.  Look up "Family Limited Partnership", and see what the wealthy white folks are up to.  Scams are free of ethnicity!

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 9:56:16 AM   
ElectraGlide


Posts: 1246
Joined: 11/25/2005
From: Maryland
Status: offline 		Thanks for your reply LadyHibiscus, yes Tax loop holes are a way of American life, created by who else, wealthy politicians, lol.
When I was a teen in the late 70's people from other countries, mostly Middle Eastern countries were snapping up the local 7-11's and gas stations convience stores in big numbers,and that is when I first started hearing it in Delaware and Maryland, and it still has not stopped I heard it this week at work.
I did work at a gas station that was bought from a man from India. The old customers told me they would protest because he was not American, which he was. He was a citizen. The local civic associations went to a board meeting to  approve a major gas station upgrade. They approved it, it was sold after, they told me, if they knew a man from India was going to buy it, they would have fought the upgrade.
Everyone told me to get a new job quick, they told me how nasty and crooked people from India were. I was young I kept a open mind. I did want a new job anyway, I wanted something closer to home, and in Maryland, so I would not have to pay Delaware taxes.
Let me sum this up, the man from India named Rich was a great guy, he kept me at the same pay and did not want me to leave. I left after awhile because I landed a better job a mile from my house.
I learned many things about India that was fascinating, several of his cousins came here to work in America, and they were happy to taste the American dream, they worked long hours. Rich called me Uncle David to his daughter, he said all friends in India are brothers of each other. It was a great gesture.

< Message edited by ElectraGlide -- 11/14/2008 9:57:41 AM >

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 11:21:06 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		see "exception to the rule"

see "exception to exception"

see "exception to exception to the exception"

are you dizzy yet?

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RE: Myth of Fact. Do Foreigners have a business in the ... - 11/14/2008 11:33:26 AM   
LadyHibiscus


Posts: 27124
Joined: 8/15/2005
From: Island Of Misfit Toys
Status: offline 		A large number of my clients are from India, Electra Glide.  Their culture is different, and their business mindset is, too, but hey!  Who can sneer at a work ethic?  Folks are folks, some honest, some not. 

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