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LLC Taxation
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Vols3827
Level 3
04-03-2021
07:53 PM
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If a client lives in Massachusetts, but sets up an LLC in Illinois because that's where the rental property the LLC contains resides, then should the client have to pay Illinois tax on that LLC income + Massachusetts tax also? How do we ensure the client avoids double taxation in that regard? Because the income from that LLC was all earned in Illinois under an LLC setup in Illinois.
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1 Comment 1
sjrcpa
Level 15
04-03-2021
08:50 PM
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Massachusetts will give a credit for tax paid to Illinois.
The more I know, the more I don't know.
