Future move tax implications.

[Joseph Hammel]

Hello BP community. In a few years I may move to Wisconsin from Minnesota to be closer to my wife's family. All my rentals are in Minnesota. Most are in my name and a few are in a LLC in my name. The LLC ones just "flow through" on my taxes. Would I end up paying income tax in MN and WI? Are there any tax moves/ structure to minimize this? Any tax professionals, accounts or other investors out there please chime in.

Thanks in advance!

[Ashish Acharya]

Originally posted by @Joseph Hammel:

Hello BP community. In a few years I may move to Wisconsin from Minnesota to be closer to my wife's family. All my rentals are in Minnesota. Most are in my name and a few are in a LLC in my name. The LLC ones just "flow through" on my taxes. Would I end up paying income tax in MN and WI? Are there any tax moves/ structure to minimize this? Any tax professionals, accounts or other investors out there please chime in.

Thanks in advance!

Most of the state won’t double tax income that is already taxed in other state. So no worries.