I live in state A. I opened LLC in state B. My LLC bought property in state B.
Do I must pay taxes in state A and state B on cashflow?
If I will sell property do I must pay taxes in state A and state B on capital gain?
2006-12-15 04:06:23 · 3 answers · asked by E u g e 1 in Business & Finance ➔ Renting & Real Estate
2bostonianinmo: you mean, if company was established in my home state I don't need pay state income tax in state B?
2006-12-15 04:57:57 · update #1
b-in both cases
2006-12-15 04:09:52 · answer #1 · answered by binda 3 · 0⤊ 0⤋
with or with out the LLC, all of it is going on agenda D. An LLC is a skipped over entity on the federal aspect. issues get messier on the state aspect. some states require an LLC to record a company go back or a particular LLC go back. Many states have minimum franchise prices that can run into thousands of funds even if you end up making no earnings in any respect. CA to illustrate will hit you for $800 each and every 12 months that the LLC is in life. some states also require particular public disclosures of LLCs and organizations which aren't to any extent further required of inner most electorate. you're dreaming in case you imagine that an LLC will shelter your figuring out to purchase and promoting losses or bare recommendations. even if the account is opened contained in the call of the LLC, achievable be held responsible for any losses because you're doing the figuring out to purchase and promoting. maximum brokers will require you to for my area assure fee when you consider that your LLC does no longer have a D&B score, effectively rendering the LLC a valueless stack of paper.
2016-11-26 21:08:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
That depends upon where the LLC was established. Consult with a tax advisor.
2006-12-15 04:23:18 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋