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Updated almost 10 years ago on . Most recent reply

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Nick C.
  • Specialist
  • Tampa, FL
2,947
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2,277
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Question on Taxes for Private Lending

Nick C.
  • Specialist
  • Tampa, FL
Posted

Hello BPers, I'm stumped and hope to get some clarity on this - If I am currently living in NY, but lending on properties in Florida, which state will I be paying taxes in? The lending LLC will be set up in Florida. Hope this is enough clarity, thanks in advance!

Most Popular Reply

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269
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Michael Smith
  • Real Estate Broker
  • Greenville, SC
141
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Michael Smith
  • Real Estate Broker
  • Greenville, SC
Replied

FL does not have an income tax. Check with your accountant, but I'm pretty sure as a resident of NY you would pay NY income tax on any income you earn, even in out-of-state ventures.

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