Moving states and rental income

[Aaron DAngelo]

Hello,

I'm trying to plan out moving states; in this case moving from Georgia to Florida for some of the tax benefits for both salary and company equity.  I currently own my home and don't plan to sell it but want to look into having a short-term rental company manage it like an Airbnb. Even though I will be living in Florida and become a resident, would I have to pay taxes on the income earned from the house to the State of Georgia since that's where the house is or not? Also would I be better forming a LLC for the rental property? What would the tax benefits be of forming a LLC for the house?

[RSUMan]

As a non-resident of GA with GA source income, you have to file a GA tax return.

An LLC can provide some liability shield relating to the operation of the rental; yet, there is paperwork and expense associated with forming and maintaining an LLC.

Assuming you are the sole member of the LLC, there are no tax benefits of forming an LLC since the IRS considers a single member LLC as a "disregarded entity."