Incorporating a Wyoming LLC for Korean E-commerce Sellers
Korean e-commerce sellers can establish a Wyoming LLC to access the US market while benefiting from the state's lack of corporate income tax. This structure requires compliance with both US federal tax reporting and Korean National Tax Service regulations.
Firstbase.io facilitates the formation process and EIN acquisition. Sellers must ensure they maintain accurate records to satisfy IRS information return requirements for foreign-owned entities.
Model the full outlay, not just the setup fee
- SetupFirstbase.io setup$399.00
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What the tax authority sees
Wyoming LLCs are pass-through entities for federal tax purposes, meaning non-US owners are generally only subject to US federal income tax on income effectively connected with a US trade or business (ETBUS).
National Tax Service; foreign-source income reporting per Income Tax Act Article 3; Korea has US tax treaty (10% treaty rate for royalties).
Use Firstbase.io to handle the Wyoming filing and EIN application, then consult a Korean tax accountant regarding the NTS reporting requirements for foreign-source income.
- 01IRS Form 5472 and 1120 filing requirements for foreign-owned LLCs
- 02Failure to report foreign-source income to the Korean National Tax Service
- 03Potential US withholding tax on US-sourced dividends or royalties
From filing to funded bank account
US LLC (Wyoming) vs Estonia OÜ (e-Residency)
FAQ
Start filing with Firstbase.io · save $50.00
Formation typically completes in 2–3 weeks. Use the promo below, then click through to begin the checklist directly on the platform.