Is net income from income property subject to state tax?

Is income from multifamily or leased property such as single tenant, or capital gain from sale of such properties subject to state tax. The holding is with an LLC.
In Leasing Property - Asked by Noam A. - Aug 1, 2012
Report Abuse
Answer this Question

Answer(s)

Israel S.
Broker/Agent
Brooklyn, NY

you have to ask a proffesssional

Aug 2, 2012
Report Abuse
Deven B.
Owner/Investor
Williamstown, NJ

Yes

Aug 8, 2012
Report Abuse
Tim T.
Owner/Investor
Phoenix, AZ

Yes

Aug 8, 2012
Report Abuse
Joseph L.
Orlando, FL

Not if you claim you primary residence in Florida, No Income tax in Florida!

Sep 1, 2012
Report Abuse
Jeff R.
Lender/Mortgage Broker
Birmingham, MI

I agree, yes. The depreciation you get from owning can help reduce you tax rate though.

Sep 13, 2012
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question