Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Florida LLC live in NY

Highlighted
Level 1

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

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
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

0 Cheers
11 Replies 11
Highlighted
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

0 Cheers
Highlighted
Level 1
Thank you it is not a single-member LLC there are two members
0 Cheers
Highlighted
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.
0 Cheers
Highlighted
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
0 Cheers
Highlighted
Level 1
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
0 Cheers
Highlighted
Level 15
Which NY may say constitutes doing business/nexus.

ex-AllStar
0 Cheers
Highlighted
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??
0 Cheers
Highlighted
Level 15
There isn't. Just sayin' if that's the only NY connection - compliance is low.

ex-AllStar
0 Cheers
Highlighted
Level 1
Thank you everyone
0 Cheers
Level 8

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.

0 Cheers
Highlighted
Level 1
I apologized it’s the way I worded it it’s not for me it’s for a client thank you
0 Cheers