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    LLC Membership Sale Question

    rcarmarkcpa
    Level 2
    ‎09-09-2021 02:18 PM

    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?

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    2 Comments 2
    PhoebeRoberts
    Level 11
    Level 11
    ‎09-09-2021 02:20 PM

    Every state is different with regard to this.

    sjrcpa
    Level 15
    ‎09-09-2021 02:26 PM

    Member will always pay tax to their state of residence.

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

    The more I know, the more I don't know.
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