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Level 2
posted Oct 19, 2022 7:39:17 AM

Filing taxes for a single member LLC registered as foreign entity

Hi,

 

I have a single member LLC with an S-Corp election that was formed and registered in NY. I will be spending 2023 in Georgia, but do not want to dissolve my NY LLC since I may return to NY in a year or two. I plan to register as a foreign entity in GA.

 

Since all of my income will be earned in GA (I have a consulting practice), will I be able to file personal income taxes in GA without any NY liability? I understand I may be responsible for various filing/registered agent fees in NY.

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1 Replies
Level 15
Oct 19, 2022 8:04:56 AM

Basically,. so long as you maintain NY as your "tax home", all worldwide income will be taxed by NY. Generally, states have reciprocal tax agreements. So you would most likely be "credited" by NY, for taxed paid to GA. I don't know of NY and GA have such an agreement. But from what I see at https://www.thebalancemoney.com/state-with-reciprocal-agreements-3193329 it doesn't appear NY or GA has any such agreement. Being that this is a third party site, I would not take that as factual gospel though.