Per Se Corporation
Per Se Corporation: In some circumstances, a corporation will want to disregard the entity for IRS tax purposes, but remain a corporation for legal purposes. This is to simplify the tax reporting, but to maintain the legal protection of an entity.
In the U.S., a common example is a single member LLC (SMLLC). But, when the analysis involves foreign corporations, the rules are a bit more complicated.
That is because the IRS classifies certain foreign corporations as per se corporations.
That designation means that the foreign corporation is deemed a foreign corporation, despite otherwise being eligible to disregard the entity.
One very common example is a Sociedad Anonima.
We will summarize the per se corporation list of default foreign entities for U.S. tax.
Current List of Entities Considered Per Se
Foreign Corporations can be disregarded as well, as long as they are not considered to be “Per Se Corporations.”
If a Foreign Corporation is considered a per se corporation, then the corporation cannot be disregarded, and full reporting is necessary (usually on a form 5471 if the person qualifies under one of the 5 categories of filers).
- American Samoa, Corporation
- Argentina, Sociedad Anonima
- Australia, Public Limited Company
- Austria, Aktiengesellschaft
- Barbados, Limited Company
- Belgium, Societe Anonyme
- Belize, Public Limited Company
- Bolivia, Sociedad Anonima
- Brazil, Sociedade Anonima
- Bulgaria, Aktsionerno Druzhestvo.
- Canada, Corporation and Company
- Chile, Sociedad Anonima
- People’s Republic of China, Gufen Youxian Gongsi
- Republic of China (Taiwan), Ku-fen Yu-hsien Kung-szu
- Colombia, Sociedad Anonima
- Costa Rica, Sociedad Anonima
- Cyprus, Public Limited Company
- Czech Republic, Akciova Spolecnost
- Denmark, Aktieselskab
- Ecuador, Sociedad Anonima or Compania Anonima
- Egypt, Sharikat Al-Mossahamah
- El Salvador, Sociedad Anonima
- Estonia, Aktsiaselts
- European Economic Area/European Union, Societas Europaea
- Finland, Julkinen Osakeyhtio/Publikt Aktiebolag
- France, Societe Anonyme
- Germany, Aktiengesellschaft
- Greece, Anonymos Etairia
- Guam, Corporation
- Guatemala, Sociedad Anonima
- Guyana, Public Limited Company
- Honduras, Sociedad Anonima
- Hong Kong, Public Limited Company
- Hungary, Reszvenytarsasag
- Iceland, Hlutafelag
- India, Public Limited Company
- Indonesia, Perseroan Terbuka
- Ireland, Public Limited Company
- Israel, Public Limited Company
- Italy, Societa per Azioni
- Jamaica, Public Limited Company
- Japan, Kabushiki Kaisha
- Kazakstan, Ashyk Aktsionerlik Kogham
- Republic of Korea, Chusik Hoesa
- Latvia, Akciju Sabiedriba
- Liberia, Corporation
- Liechtenstein, Aktiengesellschaft
- Lithuania, Akcine Bendroves
- Luxembourg, Societe Anonyme
- Malaysia, Berhad
- Malta, Public Limited Company
- Mexico, Sociedad Anonima
- Morocco, Societe Anonyme
- Netherlands, Naamloze Vennootschap
- New Zealand, Limited Company
- Nicaragua, Compania Anonima
- Nigeria, Public Limited Company
- Northern Mariana Islands, Corporation
- Norway, Allment Aksjeselskap
- Pakistan, Public Limited Company
- Panama, Sociedad Anonima
- Paraguay, Sociedad Anonima
- Peru, Sociedad Anonima
- Philippines, Stock Corporation
- Poland, Spolka Akcyjna
- Portugal, Sociedade Anonima
- Puerto Rico, Corporation
- Romania, Societate pe Actiuni
- Russia, Otkrytoye Aktsionernoy Obshchestvo
- Saudi Arabia, Sharikat Al-Mossahamah
- Singapore, Public Limited Company
- Slovak Republic, Akciova Spolocnost
- Slovenia, Delniska Druzba
- South Africa, Public Limited Company
- Spain, Sociedad Anonima
- Surinam, Naamloze Vennootschap
- Sweden, Publika Aktiebolag
- Switzerland, Aktiengesellschaft
- Thailand, Borisat Chamkad (Mahachon)
- Trinidad and Tobago, Limited Company
- Tunisia, Societe Anonyme
- Turkey, Anonim Sirket
- Ukraine, Aktsionerne Tovaristvo Vidkritogo Tipu
- United Kingdom, Public Limited Company
- United States Virgin Islands, Corporation
- Uruguay, Sociedad Anonima
- Venezuela, Sociedad Anonima or Compania Anonima
Non-Compliance with U.S. Tax Law
Whether it is because you did not you had to report foreign corporations, were below the threshold for filing in a foreign country, and/or have other unreported income, accounts, investments or assets – we can help.
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