Out of State Owner - Tax question upon SC property sale

[Maria K.]

Hello, I live in PA and have owned a rental property in the Columbia area for about 3 years. I may be interested in selling it early next year. In PA and MD, if you are an out of state owner, there is an additional tax that must be paid at settlement. In MD, you can create an MD LLC and that exempts one from paying the additional tax. Does anyone know if an out of state owner that owns property in SC must pay additional taxes when they sell their SC house as an individual and whether there is any tax benefit to creating a SC LLC for this reason? Just checking in advance so I can be prepared! Thank you.

[Andrew R. Lucas]

I believe you will be required to pay an additional tax as out if state seller.  5% - 7% I think.

It only costs $110 to create the llc. But then you'll have to get the property in the llc name.

Let me know when you plan to sell. I'm investing in Columbia.