9/6/24
Hi TurboTax expert,
My biz structure is the same as in the post of "Got stuck at 1065 form filing using Turbotax Business. Please help!".
My partnership holding LLC is registered in Wy and has subsidiary disregarded AR LLC conducting rental biz in AR. I am using TurboTax Biz and finished 1065 + SchK1 for Wy LLC. From the post I do see that a disregarded Partnership LLC does not need to file state return in MD, VA; but should my Wy LLC file Wy and AR state return?
Thank you and looking forward to hearing from you.
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I'm going to page Champ @Rick19744 for this. Please check back.
Your post is a little confusing as you bring in MD and VA; not sure why?
Having said that, based on the limited initial facts:
Thank you Rick19744 (Champ ) for the valuable input! You are right , the Wy Holding LLC has two members ( me and my spouse) is a disregarded multi-member partnership. The AR LLC is a disregarded but single-member LLC ( membered by Wy LLC only). I am forming a new disregarded Maryland LLC (also single-membered by this Wy Holding LLC) to do rental biz in Maryland.
In the Post "Got stuck at 1065 form filing using Turbotax Business. Please help!", the TurboTax expert stated:
"The Maryland Admin Release No. 25 states that if an LLC has elected to be classified as a disregarded entity for federal income tax purposes, [it] will not have to file a separate Maryland income tax return." so it is confirmed my Wy LLC donot need to file Maryland state return.
The AR LLC filed "Annual Franchise Tax Report" this year; does the Wy Holding LLC need to file its own "Annual Franchise Tax Report" to AR, as well? AR LLC is the actual entity doing biz in AR, Wy LLC is just the holding entity.
Thank you again and best regards!
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