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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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Are there any tax implications if I withdraw from a foreign

Customer Question

Are there any tax implications if I withdraw from a foreign corporate PayPal account to an US personal bank account?
Following Situation:
- Foreign LLC, no US shareholder or director, <5% sales from US
- Paypal (non-US) account for this LLC can only withdraw to US bank accounts
- LLC can not obtain a US bank account (seems to be impossible for foreign entities to obtain a US bank account)
- Owner and Director (non-US) has a personal bank account in the US.
I remember reading somewhere, that this will have tax implications (despite having no residency in the US), but can't find the article anymore.
Idea is to withdraw from the corporate PayPal account to the private bank account at the US bank and then wire the money to the corporate bank account. The corporate bank account is in the LLCs jurisdiction.
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
WTF just happened?I agreed to a 5USD deposit, not the full amount.Please cancel this question and immediately refund the payment.I agreed to 'pay if I am satisfied', nothing else
Expert:  Robin D. replied 1 year ago.

I was composing an answer to your question but as you have now requested a refund (and I am not paid unless I receive a positive rating) I will instead send your request to Customer service.

Customer: replied 1 year ago.
Thank you, ***** ***** no intent on cheaping out on the payment, but when a website asks me for a 5USD down payment and then charges me the full amount , I get seriously pissed at their business practice and will not work with them. As a matter of principle I rather pay a few hundred bucks to a tax attorney than supporting such fraudulent practices. Sorry you are caught in the middle.