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Rental property in another state

by equinox57, Window Shopper

  • Created: May 3, 2010, 3:11 pm
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3 comments

My rental property is in a income tax state (OR).  I am moving to WA and would like to start a property management LLC business.  What are the tax liabilities in both state and must I register my business in both states?   

 

 

Tags: Discuss Popular Topics, Filing and Paying Taxes
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NicoleD | Former Moderator | 5/12/2010 - 11:55 am

Thanks for jumping in. Here's the link to the Oregon Secretary of State http://www.sos.state.or.us/ and Department of Revenue http://www.oregon.gov/DOR/BUS/index.shtml and the Washington Secretary of State http://www.sos.wa.gov/Default.aspx and Department of Revenue http://dor.wa.gov/content/doingbusiness/registermybusiness/

jbeidle | Contributor | 5/12/2010 - 8:05 am

No, you will not pay double state income tax. The taxes paid to another state will be a credit against your home state income taxes. You will need to check with the OR secreatry of state about registering.
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NRiddle | Contributor | 5/3/2010 - 4:57 pm

If you earn money from a property in the state of OR you'll need to pay state income tax on that money earned. If the state your moving too has state income tax you'll need to pay it in that state as well, so essentially you'll be double taxed at the state level. You'll need to file a non-resisdent state income tax for OR.
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