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Re: Zimmermann legal fund
At 12:20 PM 8/1/95 +0800, Enzo Michelangeli wrote:
>Now, my main objection to opening a US account is that it's unclear
>whether or not, for simply receiving payments there, a non-resident and
>non-citizen account holder like myself incurs in any tax liability with
>Uncle Sam's Inland Revenue. Can anybody on this list shed light on the
>issue? Last time I checked, the guys at FV weren't sure either.
The real question isn't based on your bank account, but on whether or not
Uncle Sam thinks you are "doing business in" the US. This is the
fundamentally thorny question that is raised by cyberspace businesses.
Having payments made to a US bank account may make it more likely that the
US will decide that you are doing so, but they could decide it anyway just
because you have buyers in the US, or because you're using a US-based
payment server. The laws are, to say the least, not clear on such points.
As a practical matter, however, it is true that using a US account will
make it easier for Uncle Sam to tax you if it decides that's appropriate.