Selling on Amazon with LLC on stealth account.

ersincemil · #1 06-22-2022

Hello,

I have bought Amazon Stealth Account last year with Spain citizen and W8-BEN filled from owner for that account.

I didnt updated tax information on that account to my LLC because this can trigger verification and I maybe wont be able to reinstate it and this is why i changed only deposit method to my LLC bank account and receiving payments to my LLC.

In this case who should be taxed my LLC or owner of the account?

**SaiJin** · #2 06-23-2022

Since you didn't update it in time, it'll be to the owner of the account.

ersincemil · #3 06-23-2022

Isnt the tax responsibility on the LLC as my LLC is receiving the money?

rsot · #4 06-23-2022

Quote:

Originally Posted by ersincemil

Isnt the tax responsibility on the LLC as my LLC is receiving the money?

Seems like the LLC is only receiving money in the bank and is not registered on Amazon

**SaiJin** · #5 06-23-2022

Quote:

Originally Posted by ersincemil

Isnt the tax responsibility on the LLC as my LLC is receiving the money?

I'm not sure what you meant, but if you didn't change the tax info until after the tax deadline, it'll tax the original owner instead.

ersincemil · #6 06-24-2022

Quote:

Originally Posted by SaiJin

I'm not sure what you meant, but if you didn't change the tax info until after the tax deadline, it'll tax the original owner instead.

Tax owner is not US person and account is not with 1099k so Amazon wont report sales to IRS, they are with W8-BEN. In that case the responsibility is my to report sales isnt it?

rsot · #7 06-24-2022

Sounds like you should either speak to that person or get professional financial consultant to review the info if you're doing big sales

ersincemil · #8 06-24-2022

I talk to few financial consultants and they said that tax responsibility is on LLC because LLC is receiving the money.

**SaiJin** · #9 06-24-2022

Quote:

Originally Posted by ersincemil

I talk to few financial consultants and they said that tax responsibility is on LLC because LLC is receiving the money.

This is for 2021 correct? And your account is still up and running?

Amazon didn't send you a message whatsoever about this?

Fpr 2022 they will tax the current LLC for sure.

ersincemil · #10 06-24-2022

Yes up and running i already paid tax for 2021 for the LLC. Just needed to be sure if its correct and if anyone deal with same issue before.

**SaiJin** · #11 06-24-2022

Oh then I don't think there's really anything else you need to do.

You should be set