7. Reliability of American banks to open an account
US banks are among the oldest and most reliable in the world. Yes, there were problems that arose in connection with the crisis of 2008, when a couple of large banks "fell". But in general, the system is very reliable, it offers deposit guarantees and access to banking. And, importantly, information from the United States is not transmitted to other countries. And this is another significant advantage.
8. Confidentiality of information about bank accounts in the USA
If you have an account in the USA, then they can only find out about it through direct court proceedings or a direct court request. It is not possible to request information from the United States even before a court decision is made. The automatic exchange of tax information is one of the components of global deodorization. And the USA became a pioneer in this matter, forcing all countries of the world with all their banks to transfer information about the accounts of Americans and American companies to themselves. At the G20 meeting in Europe, the Common Reporting Standard (CRS) was finalized and created, and the United States was invited to common information exchange. But they refused to disclose information about the accounts held in the United States since they are already being given all the necessary data. And thus, they have become one of the largest harbors in the world where you can keep accounts.
9. Payment systems and financial companies in the USA
A large number of banking instruments, checks, and access to electronic systems: the IT sphere is very extensive and diverse. E-commerce, services such as Software of the Services, involving online access to any software, the sale of various applications, web-store, all this requires payments. And for them, you need to connect payment systems. And in this regard, no country in the world has such diversity and such competition as in the US market. They offer the widest range on the most favorable terms. Moreover, this applies to both high-risk and ordinary retailers.
10. Specifics of contract law in the USA
It can be very difficult to work directly with an American company from the Ukrainian market. For example, Americans have their own understanding of contract law. Very often, the samples of contracts that are sent from the American side are adapted for the States, but in Ukraine, they will not even pass currency supervision. In the USA, they do not understand why prescribe so much superfluous and unnecessary, if you can arrange a contract in the simplest possible form. In addition, they are afraid of difficulties with taxes. For example, when paying to another country, it is difficult to determine how it will be classified there, so in the United States, they believe that it is easier not to conclude such a contract than to take responsibility for such nuances. Therefore, if you want to work with the North American market, it is better to go there through your company and take on all the technical and reputational difficulties. Of course, this will entail additional costs, however, they will fully pay off due to the trust of local customers.
11. Payment for favorable conditions and opportunities
All of the above is a weighty set of factors that turns the United States into such an interesting country for IT business. But there is also one minus, which should be perceived as a payment for all the amenities. These are taxes. In the USA, they are far from the lowest. But it is an integral part of any civilized society. If you want to deal with reliable courts, the absence of corruption, and the smooth operation of the state machine, you need to pay for it. Therefore, Americans are calm about this and, moreover, consider paying taxes a matter of honor.
12. Types of companies and types of taxation in the USA
Even if we perceive the United States as one country, in fact, it is 51 countries, where each state has its own registry of companies and registration rules. In addition to different legal types of companies and organizational and legal forms, there are also different types of taxation. For example, the same legal form of A limited liability company or LLC (an analog of our LLC) may have several types of taxation at once, depending on who is its founder. This may be the so-called Neglected entity or the principle of Pass-through taxation when a company does not pay taxes and does not file its tax report, and all this is done by its founder. All income is regarded as income under the SPD, and this is a kind of hybrid form. As a rule, this applies if the company has one founder. Or, for example, Partnership – can be both the legal form of the company and the type of taxation. Such conditions often cause confusion, and they should be thoroughly understood, and it is best to contact a licensed specialist for this.
13. States with optimal conditions for creating a business
It cannot be said that one state is good for creating an IT business, and the other is bad, first of all, the company's activity and business model are important here. For B2P, you need to choose one in which there is no Sales Tax or one where the amount of this tax is minimal. For example, in Nevada it is, but in Delaware, it is not. By the way, Delaware is a very convenient and "worn-out" state for IT since the beginning of the industry. But there are already a lot of companies there, and it will not be easy to explain that you have a reliable business and not another show company. There are states in which there is a fairly strong association with IT, although taxation is not as beneficial in them, for example, as in Nevada. It is the optimal choice for the B2B model. Here you can not pay state tax, Income Tax, not pay Franchise Tax, pay only Business license Tax. In general, any of the 51 states can become a wonderful home for an IT company, you just need to evaluate its activities, the partners you will have to work with, and carefully weigh all these factors together. And if you put on the scales, on the one hand, a wide range of opportunities that opens up access to investment markets, privacy protection, and business convenience, and on the other hand - far from the lowest taxes, then the payment for such conditions looks more than fair.
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