All Forum Posts by: Clive Smith

Was your prior cpa filing the parent with a partnership return (I believe 1065)? the child would be a disregarded entity and thus "collapses" onto the parents partnership return. I thought in some instances married owners were treated as one, so I'm not sure.

I think the issue is how is the NC taxation filed. Since the child is disregarded, probably/maybe by NC as well, the primary EIN is the parent. But, to file under the parent, the parent would need to be registered in NC.

I am interested in this. Perhaps @Basit Siddiqi or @Michael Plaks has a minute to chime in?

Yes it was filed a 1065

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Greensboro, North Carolina

Parent llC in wyoming - 50% owned by me and 50% owned by my spouse

Child LLC in North Carolina - 100% owned by parent LLC

We brought one 5 unit property in NC in 2021 using Child LLC name as owner and paid cash.

Property management is managing it and giving check on the name of property owner who is Child LLC

prior cpa was filing taxes under Parent LLc as the child LLc is a pass through entity.

Our new CPA is getting confused and asking us to register Parent LLC in NC as foreign entity doing business and asking to get all our rents paid on Parent LLC instead of Child LLC.

Can anyone in NC chip in on how this work? would appreciate your time, thank you

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Greensboro, North Carolina

All Forum Posts by: Clive Smith

Clive Smith has started 1 posts and replied 2 times.

Post: Parent and child llc tax question

Post: Parent and child llc tax question