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State tax filing
I will provide some comments related to your overall question:
- In general, an LLC that is organized in a particular state is required to file a partnership return in that state. This assumes that the state in fact has a partnership return filing requirement, as some may not. CT does in fact have a partnership return filing requirement.
- The CT-1065 will also include a Schedule CT K-1 for each member. This CT K-1 will reflect the total income or loss and then the income or loss apportioned to CT.
- You will need to determine if you, as well as any other nonresident members, were included in a composite tax return that was filed on behalf of all nonresidents. There is a box in the upper left hand side of the CT K-1 that will be marked if this is the case. If a composite return was filed on behalf of nonresidents, then you do not have any further CT filing requirement.
- If nonresidents were not included in a composite return, then you will need to file a CT nonresident tax return and report your share of the CT apportioned income / loss reflected on your CT K-1.
- CT legislature passed a bill effective for 2018 as a result of the federal TCJA which caps the deduction for state, local and property taxes at $10,000. The bill introduced a new entity level tax on pass-through entities.
- Your share of the entity level tax will be reflected in Part III of your CT K-1 and will be used when filing your CT nonresident individual tax return.
Below are a couple of links that may provide some overall guidance:
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎June 3, 2019
4:34 PM