can you sell a business to a foreign country and pay to taxes?

January 22, 2010 by admin · 4 Comments
Filed under: United States 
business
miked2023 asked:

I’m writing a movie and part of it is where a guy want to sell his business to a foreign party so he won’t have to pay taxes – so he can keep it all. is it possible to do this? it doesn’t have to be a foreign party – looking for a plausible loophole. thanks.
He basically wants to sell it to a buddy through a 3rd party loophole of some kind and pay no taxes (any other ideas?. it’s supposed to be illegal – but doable. that’s the point. get creative! thanks.

Related Blogs

Related Blogs

Possibly Related Posts:


Tags: , ,

Comments

4 Responses to “can you sell a business to a foreign country and pay to taxes?”
  1. wndlssmgc says:
    January 24, 2010 at 6:37 am

    I think you do, although I’m Aussie, because it’s still considered an income. I’m sure there are many ways to get away with this illegally though. wndlssmgc

  2. Mark C says:
    January 27, 2010 at 8:44 am

    There aren’t any loopholes – if you sell something of value and have made gains against your investment you have to pay capital gains tax – doesn’t matter who actually buys it… Mark C

  3. Pagan Dan says:
    January 28, 2010 at 4:20 pm

    Any company that does business in the US has to pay American income tax, regardless of ownership. Get your character to buy a shell company (legally incorporated but no income or assets) and take it from there. Pagan Dan

  4. googie says:
    January 29, 2010 at 11:14 pm

    Before you interject the subject of taxes into your movie, you had better know what really happens. Otherwise you are working under false assumptions and that doesn’t fly!! googie

Speak Your Mind

Tell us what you're thinking...