Equilam is an industrial product sales and service company with a main office and lab operations in Tampa and manufacturing being done out of a related company in Sao Paulo Brazil. The two partners noted they easily found The Startup Store via a Google search, and stated their problem was “How do we set up a U.S. operations company that is owned 50% by a Brazilian and 50% by a U.S. citizen that wants the tax benefits of an S corporation?”
Knowing an S corporation cannot have a foreign partner, The Startup Store recommended an LLC for the main operating entity. It would be owned 50% by an ITIN (Individual Taxpayer Identification Number) to be applied for by the Brazilian, and 50% by an S corporation to be set up and owned 100% by the U.S. citizen.
All was successfully accomplished by The Startup Store, and Equilam has since signed on with The Startup Store for Web Design, Accounting, Tax Preparation, CFO On-Demand and CRM Consulting services.