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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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If I create a Series LLC organized in Nevada, operating in

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If I create a Series LLC organized in Nevada, operating in FL buying real estate and I reside in NYC - I assume my corporation doesn't pay any taxes in Nevada (no operations there and I reside in NY), pays only property taxes in Florida (since LLC is a flow-through tax entity), and pays only income / self-employment tax on the pass through operating profit in NYC. Is that the correct?

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification.


Yes, the incorporation does not matter the state where the income is produced and where you reside is where your personal taxes would be paid, if I were you I would try to establish Florida as your state residence so you would avoid NY tax, if you have property in Florida it may be possible.

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