If I were form an LLC (single owner as a Canadian citizen) would I be subject to 30% taxes on profits generated in the LLC? And if so, would the W8BEN allow me to claim 0%?
Nick here from Shopify.
Really good question, taxes can be difficult to figure out even on the best of days. Firstly, I would advise you to book an appointment with a professional accountant or to visit your local tax office for this. I'm not completely familiar with Canadian tax laws and an accountant would most certainly know better than anyone, especially for your region. Because taxes are different for every country in the world and even regions within countries, it is often hard to give exact answers for questions like this, which is why it's best to visit a professional in your local area as they would be experts on the matter. What Shopify can help you with is how to set up and configure your taxes within your Shopify admin so that you are charging the correct amount of tax for each sale. There is a new method for Canadian taxes where Shopify automatically sets the tax rates that apply in Canada which you can see here.
I did, however, find some helpful documents from the Government of Canada website regarding corporation tax rates but it didn't give an exact answer to the question you are looking for. You can see it here.
I know this might not be an exact answer to your question, but I hope it makes sense for your best next steps and what to do. Don't hesitate to ask if you have any other questions about anything.
All the best, Nick
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