The United States tax system presents countless compliance challenges for Canadian businesses. From federal, state, and local taxes, to payroll, transfer pricing, expatriate tax, and legislation, US tax is complex and continuously evolving. The success of any Canadian company operating in America is dependent on tax compliance, accurate and consistent financial planning, reporting, and analysis.
US Corporate Tax Services
Assisting Companies Successfully Leverage Opportunities in the United States of America
US corporate tax rules and regulations are similar to Canadian corporate taxes in some ways, but also vastly different. It is imperative for any Canadian company operating in the United States to understand US tax laws and how they impact tax filings in Canada and the US.
The Internal Revenue Service (IRS) views Canadian corporations conducting business in the United States as “foreign persons” and taxes them on income connected with an American business or trade. Whether or not a business is responsible for a U.S. income tax filing and tax obligation depends on the concept of “effectively connected income” and how it relates to the tax treaty between the two countries. Although a Canadian corporation is generally subject to US corporate taxes, the tax treaty does provide some exemptions and relief.
MDP targets and executes customized, comprehensive US tax services for Canadian businesses who are operating or would like to operate in the United States. We provide US tax planning, due diligence, cross-border investments, M&As, and compliance solutions tailored to the unique aspects of our clients’ companies. Our tax professionals assist organizations with navigating the complex accounting and financial waters of doing business in America. We assess exposure and develop effective tax compliance, planning, and saving strategies to maximize every dollar.
Our US Corporate Tax Services can help you with:
- US corporate federal and state tax compliance & advisory
- Tax planning and preparation
- Cross-border tax analysis
- State sales tax
- Deferred income tax reconciliations & income tax contingencies
- Repatriation of earnings
- Valuation allowance analysis
- Ancillary USA tax services
- Estates and trusts
- Obtaining employer identification, taxpayer ID numbers
- Real estate rentals and sales withholding tax issues
- Federal and state controversy and notice services
MDP is distinct from many other accounting firms. Our practice group consists of individuals dedicated to providing the highest quality US corporate tax solutions. We assist clients with a wide range of tax services across Southern Ontario, including Mississauga, Oakville, Stoney Creek, Hamilton, Burlington, and throughout the Greater Toronto Area.