Question on LLC with partners out of state

[Mark Hill]

Hello,

I recently formed an LLC (in CA) for my rental property investments (just closed on my 1st one). However, I am also going to be partnering with a friend in Colorado. We are planning to form a separate LLC for our partnership deals, but my question is since I since I live in CA, will I still be responsible for the $800 franchise tax fee? How does these out of state partnerships/LLC's get handled at tax time?

Thanks in advance for any comments. 

Mark