rcarmarkcpa
Level 2

If a nonresident sells a membership interest in an LLC ,taxed as partnership, located in another state the taxes on the gain are owed to the state where the LLC is located and not the state where the Member lives, correct?

0 Cheers
PhoebeRoberts
Level 11
Level 11

Every state is different with regard to this.

sjrcpa
Level 15

Member will always pay tax to their state of residence.

Plus potentially tax to where the LLC and its assets are located.


Ex-AllStar