Transfer pricing regulations between the United States and Canada

In general “transfer pricing” can be defined as the internal pricing of goods or services when a company transfers goods or services internally across national borders. Usually this relates to a multinational company that has subsidiaries in several countries, and when these subsidiaries transfer goods, services, software, intellectual property etc. between each other. The general […]

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Are You A U.S. Person for Tax Purposes?

The United States taxes U.S. persons based on that person’s worldwide income. It does not matter where the U.S. person lives. If he/she is a U.S. person, that person is subject to U.S. tax. A U.S. person who owes U.S. taxes and does not pay the taxes when due may be liable for substantial penalties […]

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How to calculate the Franchise Tax for your Delaware company

All corporations incorporated in the State of Delaware are required to file an Annual Report and to pay a franchise tax online at http://corp.delaware.gov/paytaxes.shtml Franchise tax is the fee imposed by the State of Delaware for the right or privilege to own a Delaware company. If you have a company incorporated in Delaware, the annual […]

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Canadians Using LLCs to Purchase U.S. Real Estate

Many Canadians wish to purchase a vacation home or investment property south of the border. However, few carefully consider how they will structure the purchase and its tax implications before buying. Many U.S. lawyers suggest buying properties intended for rental purposes through a limited liability company (LLC). LLCs are popular in the United States since […]

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Who Must Pay California Use Taxes?

Sales Tax vs. Use Tax: Sales tax generally applies to transactions within California. If a sale originates in California, and possession of the item is taken in California, then sales tax applies. Use tax is to be paid by any purchaser who purchases tangible personal property from an out-of-state seller (unless the vendor charges sales […]

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Should Your Online Canadian Business Collect U.S. Taxes?

It depends. Do your business activities create nexus in a particular state? The term nexus means that a business has a presence in a state and is therefore subject to state income taxes and/or is subject to sales taxes for sales within that state.   Nexus is determined differently for income taxes and for sales […]

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Should You Incorporate Your U.S. Subsidiary In Delaware?

Delaware is a favored state for incorporation for a number of reason It has historically offered the best franchise tax rules and has been the most pro-management. Delaware’s General Corporation Law is one of the most flexible business formation statutes in the United States. Delaware’s Court of Chancery uses judges instead of juries. Since cases […]

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