Florida LLC live in NY

[Nicholas923]

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

[sjrcpa · Accepted solution]

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

[Nicholas923]

Thank you it is not a single-member LLC there are two members

[Marc-TaxMan]

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.

[sjrcpa]

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?

[Nicholas923]

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

[sjrcpa]

Which NY may say constitutes doing business/nexus.

[Marc-TaxMan]

@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??

[sjrcpa]

There isn't. Just sayin' if that's the only NY connection - compliance is low.

[Nicholas923]

Thank you everyone

[Ernie]

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.

[Nicholas923]

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