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Tax, SDIRAs & Cost Segregation

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Clive Smith
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Parent and child llc tax question

Clive Smith
Posted Feb 21 2024, 17:20

Parent llC in wyoming - 50% owned by me and 50% owned by my spouse

Child LLC in North Carolina - 100% owned by parent LLC

We brought one 5 unit property in NC in 2021 using Child LLC name as owner and paid cash.

Property management is managing it and giving check on the name of property owner who is Child LLC


prior cpa was filing taxes under Parent LLc as the child LLc is a pass through entity.

Our new CPA is getting confused and asking us to register Parent LLC in NC as foreign entity doing business and asking to get all our rents paid on Parent LLC instead of Child LLC.

Can anyone in NC chip in on how this work? would appreciate your time, thank you

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