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    2 Replies Latest reply on Nov 1, 2007 10:37 PM by Lighthouse24

    Canadian Taxes for a US S-Corp

    srbabu Newbie

      I have a S-Corp in US. I am a resident in Texas State. I got a consulting contract out of Toronto, Canada. I am not sure how Tax system will work. Can you help with below
      1) Do i need to pay canadian taxes as part of my s-corp..
      2) If no taxes do i still need to file 0 tax returns...

      Thank You
        • Re: Canadian Taxes for a US S-Corp
          LUCKIEST Guide
          Great question. How long have you been in business?? Do you have an Accountant??
          1) S Corps do not pay taxes. Profits are passed on to the owner and taxed on your personal tax return.
          2) Anybody who is a S corp MUST file a tax return.
          Hope this helps, LUCKIEST
          1 of 1 people found this helpful
          • Re: Canadian Taxes for a US S-Corp
            Lighthouse24 Ranger

            If you are traveling to Canada to provide consulting services, the income you receive is no different than what you receive from U.S. firms. You must file/pay U.S. taxes on that, but you do not file or pay taxes in Canada. If you are actually living in Canada and working on contract there for an extended period, you should contact the Canadian government for guidance.