Go Global - expanding to the United States

Expand your business to the US effortlessly with a global partner


The United States is a country of opportunity with the largest markets in the world alongside China. However, expanding business activities can require a lot of resources and practical arrangements, as all the states are very different in their laws and regulations. No one has everything covered up by themselves - our experts will be happy to help you plan the big steps!

Greenstep is part of the international MSI Global Alliance network. MSI Global is a network of accounting and legal firms with over 30 years of successful experience and includes more than 260 independent law firms from more than 100 countries. With the MSI Network, we will ensure that you have the best local financial management partner with you, both at home and in the States. If you wish, we can also coordinate cooperation between the countries by a "shared service center" in Finland, so the administration is always as easy as possible for you.

When you go global with a partner, you avoid unnecessary trial and error as well as common mistakes, such as too rapid growth without sufficient processes or not being aware of all the necessary laws, regulations, or policies. We already have experience with customers in the states, and we are constantly looking to expand our expertise and develop our services. All global solutions are tailor-made - please book an appointment with us to discuss more the possibilities for your company.

    Our services in the US

    Greenstep

    Accounts Payable, travel claims, credit card expenses, NetSuite Platform implementation and development, and Group Consolidation and Reporting

    With the local partner

    Accounts Receivable, General ledger, Payroll, Statutory reporting, VAT, Tax return

    Doing business in the US

    • Setting up a business
      Non-US companies must incorporate a wholly or partly owned subsidiary in the States or register as a foreign company conducting business, i.e., establish a branch office. State laws oversee the formation of the business, and each has its own rules and regulations to conduct business within its jurisdiction.
    • Taxation
      The US. tax system is made up of federal, state, and local taxes. The primary types of taxes in the United States are income, payroll, sales tax, receipts, property, real estate, etc. The United States differs from most countries as it does not have a national VAT but a sales tax imposed at the state and local levels. The federal corporate tax rate is fixed at 21%, but state corporate tax and sales tax rates vary. There are also regional differences in income taxation.
    • Accounting and auditing
      By law, the financial statements of all public companies registered with the United States Securities and Exchange Commission (SEC) must be audited annually by an independent accounting firm. Audits are conducted per the standards of the Public Company Accounting Oversight Board (PCAOB). Financial information is required to be published and filed quarterly. Auditing is not required by law from private companies, but banks or other financial institutions may require it. The audits are usually performed under the United States Auditing Standards (GAAS) of the American Institute of Certified Public Accountants (AICPA). Private companies are generally not required to disclose their financial information publicly.
    • Travel allowances
      In 2021, the mileage allowance is $0.56 per mile driven. In 2021-2022, the daily allowances are standard at $151 per day, but exact amounts are determined by county and travel date and vary widely.
    • Employment
      By default, an "at-will" employment contract is in place, which means that either an employee or a company can terminate an employment relationship at any time, even without notice and for any reason, excluding discriminatory reasons. Federal or state laws generally do not limit the number of required work hours, but the maximum is generally 40 hours per week and 8 hours per day, and overtime is subject to overtime pay. There are no national requirements for employers to pay for employees' holidays or vacations. It is common practice to offer about 15 days off a year.
    Squire

    Our MSI Global partner

    Greenstep's MSI Global partner in the USA is Squire, located in Salt Lake City, Utah. Squire provides services US-wide in outsourced accounting, payroll, U.S. federal income tax, and sales tax services. Squire’s accounting and tax teams have over 40 years of experience assisting clients in structuring their U.S. and foreign operations in a tax-efficient manner, claiming all the tax benefits available to the client’s sector/ industry, managing global reporting requirements, and minimizing the client’s global effective tax rates. In addition, Squire has a large network of legal, HR, and banking service providers to complement the partnership.

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