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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: WallStBum who wrote (285)5/6/1998 5:38:00 PM
From: Don Roberts  Read Replies (2) | Respond to of 1383
 
Dax--

We are setting up a limited liability partnership, rather than a corporation. There are 3 of us in the L.L.P., and we all will have to pay CA taxes on what we make, even if the L.L.P. is in NV. Next year I'm moving to FL, which has no income tax, so there I am safe.

Later,
Don



To: WallStBum who wrote (285)5/6/1998 9:03:00 PM
From: Colin Cody  Respond to of 1383
 
WSB, That is correct, an LLP would past the tax attributes to you personally, and you'd pay taxes pretty much the same as if you didn't have an LLP to begin with.

Colin in CT


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