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Business & farm
I don't believe that the non-resident state income tax is that big of a deal. I own 10,000 shares of EPD with annual income over $20,000. I have a negative balance in my capital account, so my K-1 reflects income in 30 or so different states. The biggest was Louisiana at about $850. The state tax calculation came out to $14. The next biggest was New Mexico. That came out to $6. The other states were $2 or less. I ignored all of those. With EPD, the state taxes are a nonissue.
If you are that worried about it, go to each states tax website, download the form and start filling it out. It takes about minutes per state. It's not that difficult.
March 20, 2024
12:14 PM