HelloI would like to know how does the taxation work when selling an owner occupied Duplex.There are two scenarios here, 1) The rental unit has similar square footage as the owner occupied unit.2) The owner occupied unit has more square footage for example it’s double the square footage of the rental unit.How does the taxation work in both scenarios?

@Naman ShahJust because you register an LLC in a state without an income tax doesn't mean that the income generated within the LLC will not be subject to income tax.State taxation will depend on the state where the member lives and where the business is conducted.Also be mindful that you may be subject to California's $800 fee regardless of where the LLC is created aslong as you are a managing member.

Can't give you legal advice but from a taxation perspective:There is no tax impact:  LLC vs LLP. 

This is taxation issue and your CPA should be able to explain what happened.

For example, if an individual's net worth was $10 million but they had accumulated $15 million of liabilities during their lifetime (that needed to be subtracted), they would only have a taxable estate of $5 million which could pass along free of any federal taxation.

Hopefully, an attorney can chime in for risk management.From a taxation perspective: If your LLC is SMLLC, your federal tax compliance fee will not increase just becuase you have multiple LLCs.

Regarding state taxation I will let a CPA or other competent tax pro weigh in on the specifics.

From taxation, the holding company is especially helpful when you have partnerships.

How do you figure out how much money you will pay in taxes at the end of the year on CF you made from your property. What is the percentage they use? I live in Illinois. 

In regards of privacy and taxation what value can a Wyoming LLC holding company provide to a RE business that buys & holds/BRRRR and has an attorney at law conduct Wyoming LLC annual reports for me?