Singapore e-biz but am US citizen. Gotta pay U.S. income tax on top of Biz tax?

Question

If I am a U.S. Citizen and am starting a business with a partner in India. Our Biz will be based in Singapore.

Answer 1

you may get a credit or deduction for any tax you pay in India...it wont be much but at least you pay a little less tax because of it.

but yes, as a US citizen you must pay your US TAX.

Answer 2

On your U.S. return, you must report your worldwide income. If the total income meets the filing requirement, you must file your tax return. Filing in the U.S. does not necessarily mean that you will be paying taxes in US also. You will get credit for taxes paid in the foreign country.

Read: http://taxipay.blogspot.com/2008/03/us-c...

Answer 3

Of course it's taxable.  As a US citizen, your world-wide income is subject to US taxation.  It doesn't matter where you or the business are located.