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Updated almost 7 years ago on . Most recent reply
50% partner owes CA taxes now attached to our rental property
Own an investment property 50/50. My partner got a personal tax lien attached to him by the State of CA. Not due to anything owned on the house. He is willing to give me the property. What is the state entitled to collect?
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Michael Plaks
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
Pro Member
#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
We can only guess. My guess is that your partner did not file CA state form for the LLC and did not pay $800 minimal annual tax. Will need to know a lot more to evaluate his situation.