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Florida LLC live in NY

Nicholas923
Level 2

I own a Real Estate LLC in Florida but live in New York

I think I need to file a NY LLC tax return as well as the Federal tax return?

What reporting is required of the LLC by Florida?


Thank you

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1 Solution

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sjrcpa
Level 15

If it is a single member LLC all activity gets reported on the owner's 1040 and NY return.


Ex-AllStar

View solution in original post

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11 Comments 11
sjrcpa
Level 15

If it is a single member LLC all activity gets reported on the owner's 1040 and NY return.


Ex-AllStar
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Nicholas923
Level 2
Thank you it is not a single-member LLC there are two members
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Marc-TaxMan
Level 8
If you lived in CAL, and owned 100% of FL LLC, CAL would require a) you file LLC Return + b) Register with SecState as a foreign LLC doing biz in CAL (the biz being control of LLC).  I always thought CAL was wrong, but you cannot fight City Hall.
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sjrcpa
Level 15

The Florida LLC files a partnership return , unless it has elected to be taxed as a partnership.

Yes NY's instructions say you must file a NY partnership return if there is a NY resident partner. I believe there is not widespread compliance with this.

But definitely need to file if doing business in NY. Since client lives in NY - is he conducting LLC business in NY?


Ex-AllStar
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Nicholas923
Level 2
Thank you for your response the business is a real estate rental business in Florida the only thing that they are doing in New York is paperwork
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sjrcpa
Level 15
Which NY may say constitutes doing business/nexus.

Ex-AllStar
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Marc-TaxMan
Level 8
@sjrcpa Looking at what you provided above, "NY's instructions say you must file a NY partnership return if there is a NY resident partner" how is there any doubt??
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sjrcpa
Level 15
There isn't. Just sayin' if that's the only NY connection - compliance is low.

Ex-AllStar
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Nicholas923
Level 2
Thank you everyone
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Ernie
Level 9

Sounds like a due it yourselfer and you need to go to the Turbo Tax forum and ask there.  Maybe you will get a good answer maybe not.  Either way you don't belong on here.

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Nicholas923
Level 2
I apologized it’s the way I worded it it’s not for me it’s for a client thank you
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