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    #1

    Ohio Partnership

    Hello. I'm new to this board, but have read several posts already, and this looks like a fountain of information. I'm hoping there's a resident Ohio expert out there.

    I have an LLC registered in MN, which holds a residential rental property in Ohio. The LLC files as a partnership and has two members. One of the members is a resident of MN and the other is an OH resident.

    I'm done preparing the 1065, but I'm having difficulty figuring out which forms Ohio requires to be filed for the LLC. Does anyone have experience with OH, and can you direct me to the proper forms I might need. Thanks.
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    #2
    The llc

    The members of the LLC who are partners will file in their individual states unless they have out of state non passive activity. If nexus is created in Ohio, then both partners will file returns in the state in which they have nexus...other than that, if it is passive activity, the partners will be taxed on their share of income in their respective states

    Comment

      #3
      Originally posted by sandysea View Post
      The members of the LLC who are partners will file in their individual states unless they have out of state non passive activity. If nexus is created in Ohio, then both partners will file returns in the state in which they have nexus...other than that, if it is passive activity, the partners will be taxed on their share of income in their respective states
      Thank you for your response, but I think you must have misunderstood the question. I'm looking for guidance on which forms the LLC is required to file in the state of Ohio, i.e., the 1065 equivalent for the state. I understand how the individual partners will be taxed. Any preparers out there from Ohio?

      Comment

        #4
        Mixed up......

        ...... Why would anyone form an LLC in a state where it wasn't going to have an operational interest?

        With that said, it happens all the time with corporations. In a corporate setting, the state of business operation would file as a foriegn corporation in that state. When I say file, I mean it registers with the state just like the proceedure for setting one up, but as a foreign corporation. I would guess an LLC partnership would have to do the same????

        Assuming a foriegn LLC is established in its operational state, two LLC state returns need to be filed. The state that formed the LLC gets a tax return with no allocated income or expenses( probably blank for the most part). The foriegn state would report everything.

        Did I miss any issues?
        Last edited by BOB W; 01-24-2007, 10:14 PM.
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

        Comment

          #5
          Originally posted by BOB W View Post
          ...... Why would anyone form an LLC in a state where it wasn't going to have an operational interest?

          With that said, it happens all the time with corporations. In a corporate setting, the state of business operation would file as a foriegn corporation in that state. When I say file, I mean it registers with the state just like the proceedure for setting one up, but as a foreign corporation. I would guess an LLC partnership would have to do the same????

          Assuming a foriegn LLC is established in its operational state, two LLC state returns need to be filed. The state that formed the LLC gets a tax return with no allocated income or expenses( probably blank for the most part). The foriegn state would report everything.

          Did I miss any issues?
          Thanks. I appreciate the response, and you raised an interesting point. My client is a MN resident, and an attorney. He formed the LLC. The other LLC member is an Ohio resident, and that's where the rental property is located. Frankly, it never occured to me to file a MN return for the LLC, but maybe we need to file in MN as well as OH. My question is more about the specifics of which forrms OH requires for the LLC filing. I've prepared OH individual and corporate tax returns over the years, but it's not my resident state, and OH has a way of making tax filings more complicated than most states. Still looking for someone with specific experience in OH partnership filing, with a resident and non-resident shareholder.

          Comment

            #6
            Take a look at ........

            ................. this.

            403 Error Page
            http://tax.ohio.gov/documents/forms/pass-through_entities/2005/PIT_IT4708_Return_Final_2006_BW_121205.pdf


            403 Error Page
            http://tax.ohio.gov/divisions/communications/publications/annual_reports/documents/pass_through_enity_tax.pdf


            at least this will give you a direction (url) to continue your search.........
            Last edited by BOB W; 01-24-2007, 11:09 PM.
            This post is for discussion purposes only and should be verified with other sources before actual use.

            Many times I post additional info on the post, Click on "message board" for updated content.

            Comment

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