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Updated over 2 years ago,

User Stats

7
Posts
7
Votes
Matthew Schlottman
  • Flipper/Rehabber
  • Phoenix, AZ
7
Votes |
7
Posts

Colorado tax on Flip through LLC

Matthew Schlottman
  • Flipper/Rehabber
  • Phoenix, AZ
Posted

Weird question that will probably require a CPA but wanted to see what people had to say first. Through an LLC a partner and myself flipped a condo in Colorado this year. He lives in Colorado, but I do not. Since I'm an out of state investor what colorado state taxes should I be on the hook for? I'm aware of a 2% tax on the sale price for out of state investors... does that apply here, if so do I pay 2% on the whole sale price still or just 50% of it?

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