Updated about 3 years ago on .
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Rental Property Investor
I'm curious to know if I setup an LLC in a non-income tax state such as Wyoming/florida will I be able to transfer/own property from an income tax state such as Michigan without incurring said states income taxes?
Example: LLC formed in Wyoming purchases property in Michigan. Will I need to setup a separate LLC in Michigan and will the said LLC be taxed twice? Or just Fed taxes on the LLC in Wyoming? Thanks, Josh