Would anyone know that trades at a prop. firm for their own account if when you file your taxes each year, other than filing your federal tax return, are you also required to file a state return only in the state in which you reside or file in ALL the states that the LLC has an office in. Furthermore, if you are required to file a return in each state that the firm has an office in, do you also pay state taxes in all the states?
Gene W recommended a number of online tax accountants that handle questions like these. generally, we don't/aren't qualified to give such specific advise. I'm guessing that the idea behind the question regarding paying multiple state taxes is based upon: 1) the idea that companies with offices in each state where they have an office have to file in each state? 2) mail order firms and such, that have offices and customers in those states have to report Sales Taxes? 3) how does this then, interact with payroll taxes?
I have only been filing in the state I live. Do not let it out - I would not want the wrong Govt. agency to find out...
JWKirkland, i see you live in NV. Does this state require a return to be filed with it or not,since the state is tax exempt?
In my situation, I had lived in CA and NV during 2000 - I filed a return in CA - ONLY on income earned during the time in CA. Once I moved to NV - No state income tax. PERIOD. You should talk to a CPA for your particular situation, there is too many experts on this board if you know what I mean Vinny1 - Do not be cheap in this area - Find the best Lawyer and CPA that you can afford - Good Luck!