Out of state investing Tax Considerations- Illinois

[John Blanton]

I am looking at investing in either a turnkey rental or promissory note as an out of state investor (NC) in Illinois. The LLC/Corp is based in Illinois that I will be investing with/in.

I want to make sure I fully understand the tax consequences before making this investment. Will I have to pay state income tax in both Illinois and North Carolina? Or just in NC as that is where I reside?

Will I have to file both an NC and Illinois state income tax return?

Appreciate the help!