Hi and welcome back to Just Answer!
1. As a non resident alien on a new C corp, do I have to make any additional paperwork stating that I (or any member of the corp) will not be receiving a salary/wage? I have decided to pay myself with dividends, but I'm not finding if I need to set something that indicates that I'm not in the US (nor anyone that will be on with this, directors/officers) so I/we will be earning our wages through dividends.
C-corporation is a separate legal and taxing entity. Because that is US corporation - it has certain responsibilities with the IRS
and other US authorities. While you are shareholders
- still C-corporation is a separate entity.
When C-corporation pays dividends to shareholders - such dividends are subject of US taxes
and if dividends are paid to nonresident
aliens - payments are subject of withholding
As a nonresident alien - you provide to C-corporation your personal
information - such as name, address, tax ID
, etc. In general - form W8BEN is used to provide such information.
The corporation will report dividends to you and to the IRS using form 1099DIV.
2. I understand that the form 1120 has to be filed every 3 months (it has to be on the 15th? or can I do it for example on the 5 or 9?). Do I have to file an annual form? If you have to, how do you do with the timing between 4th 1120 presentation and the annual report?
The form 1120 is a corporate tax return
- it is files one time per year. For 2013 tax year - the form 1120 is due by Mar 15, 2014.3. I'm going to be putting this company in Wyoming, so I believe they need an annual report. Besides the quarterly 1120 and this, another form that I should be checking
has its own taxes and reporting
requirements. In particular Wyoming - to remain in good standing each business entity, domestic and foreign
(with the exception of Statutory Trusts), are required to file an annual report and pay a fee based on its assets
located and employed in Wyoming. Wyoming has no personal or corporate income
tax. Corporations pay a license tax based on all assets located and employed in Wyoming. The minimum tax is $50 will be due if none of your assets are within the state of Wyoming