For tutorials on how to complete Schedule K2 & K3 for foreignowned partnerships:

Foreign Branch and No ECI:    • Tutorial 1  Schedule K2 & K3  For...  
Foreign DRE with US ECI:    • Tutorial 2  Schedule K2 & K3  US ...  
US LP Investment Partnership:    • Tutorial 3  Schedule K2 & K3  US ...  

Nonresident entrepreneurs can open a U.S. multimember LLC and not pay any U.S. taxes, so long as the entity is not engaged in U.S. trade or business (USTOB) and has no effectively connected income (ECI).

In this video, I outline the rules surrounding USTOB and ECI, and why a nonresident owned LLC will likely not have to pay any U.S. taxes so long as all of their operations are conducted outside of the U.S.

Check out Part 2 for the Form 1065 reporting when the LLC owes no taxes:
   • Foreign Owned MultiMember LLC  Form...  

For a larger database of tutorials, please visit our website and search for your question:
https://knottlearning.com/

DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Selfhelp services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorneyclient or confidential relationship. This video does not include information about every topic or issue related to these informational materials.

#MultiMemberLLC #USTOB #ECI