I am a permanent resident of the USA (a green card holder) eligible to apply for citizenship, but I do not know how convenient this might be in my situation.
My father has a company in the Dominican Republic and he is planing to put about 40 to 50% of the company under my name. I will be working for a salary at the company and will report my income to the USA. My concern is whether I need to report and pay extra taxes for the part of the company that will be under my name.
If I become a citizen of the USA:
When part of the company is under my name, do I need to pay US tax for the acquisition of the company?
Do I have to pay US tax for the money that the company generates for itself every year? Or do I only need to pay what I get from dividends?
Please let me know if something is unclear.