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My issue is that if I have a U.S. company and one partner in

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Hi, my name is***** issue...
Hi, my name is***** issue is that if I have a U.S. company and one partner in Canada, who will solely be working from Canada, is a Canadian citizen, and he has equity in the company, does he have to file the 83b election? He doesn't have a social security number
JA: Thanks. Can you give me any more details about your issue?
Customer: The employee (Andy) is receiving a restricted stock grant. ***** *****ves and works in Canada and is not a U.S. taxpayer, but he works for my U.S. company. If Andy was in the U.S. he'd have to file an 83b election and of course he'd be doing a U.S. tax return. Does Andy need to do any of that, being in Canada?
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Submitted: 1 year ago.Category: Tax
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Answered in 41 minutes by:
3/17/2016
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,873
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi - I can help here.

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No, as long as the partner has no US filing requirements as either a tax resident (US Citizen, Green Card, or substantial presence test)

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AND

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Performs none of the services on US soil, (hence no US Source income) which would also generate a filing requirement

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Then there's no need for an 83(b) election (as it addresses the taxation of the option for U.S. purposes)

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Let me know if you have questions

...

Lane

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I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986.

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Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

P.S. ... a best practice in this situation (for NRA contractors, employees AND partners) is to document their foreign status on Form W-8BEN(no Taxpayer Identification Number required) and the location of the services in their contracts. Compensation paid to nonresident (and resident alien) employees working abroad is not subject to FUTA either.

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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,873
12,873 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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