If I'm resident in state Georgia. And I formed LLC in state Alabama for holding real estate property with posit. cashflow.
2006-12-20 08:54:52 · 2 answers · asked by E u g e 1 in Business & Finance ➔ Taxes ➔ United States
In general states only tax non-residents on income actually earned in that state. Your state of residence may also offer a credit for income taxes paid to another state. A good tax preparer should be able to answer that type of question. Once you know the rules, the forms are usually not much harder to file than your 'normal' tax forms.
2006-12-20 09:40:00 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
The answer by Steve is good. The only thing I would add is that most bordering states have reciprocity for wages. This means that if Al and GA have reciprocity you would only file in your home state. If they don't have reciprocity then follow Steve instructions.
2006-12-20 10:44:59 · answer #2 · answered by waggy_33 6 · 0⤊ 0⤋