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California-based online fashion retailer, Everlane, is rumoured to be planning an IPO. Here's what we know so far and how to buy Everlane stock in Canada if the company goes public.
CIBC Investor's Edge
There's speculation that Everlane is planning an IPO. The company has not yet filed a viewable prospectus with the US Securities and Exchange Commission (SEC).
Details like the IPO date, ticker symbol, proposed stock price and the size of the offering have not been announced.
Everlane's annual revenue is estimated to be $151.4 million, according to Growjo, a firm that collects data on rapidly growing companies.
We'll update this page with information as it becomes available.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Once Everlane goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
You won't be able to buy Everlane stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
Note: The dollar amounts in the table below are in Canadian dollars.
Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.
An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.
Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply in your circumstances.Online stock trading
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