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Updated about 9 years ago on . Most recent reply
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Out Of State Investor
I have a business partner who lives in Texas and would like to invest 150k into a house flip in California. Does anyone know if he would have to pay CA & Texas Income tax on any profit made??? Any other taxes required to pay besides capital gains??
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Originally posted by @Amanda Malson:
I have a business partner who lives in Texas and would like to invest 150k into a house flip in California. Does anyone know if he would have to pay CA & Texas Income tax on any profit made??? Any other taxes required to pay besides capital gains??
Texas does not have an income tax. I believe he would potentially be taxed on his California income in California.
Mark