I'm currently outside of the USA. I worked there before for about a year. I have got a SSN. I know that there are sites where you can start a LLC, which i'm planning to do. They also offer registered agent services which i'm also planning to use, and also federal tax id. Basically you can formally start your business online.(Correct me if i'm wrong)
So, After I get this set up. I can use the company to make money, correct? Such as start selling stuff online and etc.
Also, Can my company hire someone to work for the company(as per my directions) in the USA without myself physically being there in the US?
If company makes a profit, how would I get paid?
Also, what kind of problems would I encounter maintaining this business over the years? I'm talking about filing taxes and other regulations to continue the company.
Note: How would the taxation go? Say the company makes a 1000 dollars first year, since it's an llc i'd have to pay that in my income tax, correct? I'm still outside of the US?
As concerns the U.S company making money, you have left out at least one step, and possibly two:
Please see Three Important Issues for Foreign Companies Coming to the U.S. and U.S. Merchant Accounts for Foreign Companies – A Problem, which discuss these issues based on my experiences helping more than 30 foreign clients build businesses in the U.S.
As concerns how you take money out of the company and taxation, you will need to retain a U.S. accountant / tax advisor who is familiar with domestic and international taxation. That is too complex a topic to be addressed here.
Disclaimer: This information does not constitute legal advice and does not establish an attorney-client relationship.
The simplest way to go is to form LLC (probably you did).
1) You company can have account in non-US bank
2) You may not have merchant account at all but use payment processors like PayPal, 2Checkout etc.
There are couple links about US taxation for non-residents.
http://www.irs.gov/businesses/small/international/article/0,,id=96477,00.html http://www.bankrate.com/brm/itax/tax_adviser/20050907a1.asp To deal with taxation on proper way you may hire can an accountant.