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    hindvds's Avatar
    hindvds Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 28, 2012, 03:11 AM
    Do I need to pay tax
    Hi I want to setup up an exchange company (remitance of money).the money comes in and goes its clients money I only make profit from exchange rates . What company is best to open in usa any state taxes I need to pay or any other taxes please help me
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 28, 2012, 04:17 AM
    Where is this at ? If US, yes you will have to pay state and federal taxes.

    Depending on the exact services, there may be additional federal permits and rules.

    What is being exchanged ?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #3

    Dec 28, 2012, 03:16 PM
    So you want to act as a remittance agent, you will be liable for tax on the fees you change
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