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Updated almost 10 years ago on . Most recent reply presented by

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5
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Amanda Malson
  • Interior Designer
  • Costa Mesa, CA
1
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Out Of State Investor

Amanda Malson
  • Interior Designer
  • Costa Mesa, CA
Posted
I have a business partner who lives in Texas and would like to invest 150k into a house flip in California. Does anyone know if he would have to pay CA & Texas Income tax on any profit made??? Any other taxes required to pay besides capital gains??

Most Popular Reply

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966
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500
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Mark Creason
  • Real Estate Lender and Broker
  • Dallas, TX
500
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966
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Mark Creason
  • Real Estate Lender and Broker
  • Dallas, TX
Replied
Originally posted by @Amanda Malson:

I have a business partner who lives in Texas and would like to invest 150k into a house flip in California. Does anyone know if he would have to pay CA & Texas Income tax on any profit made??? Any other taxes required to pay besides capital gains??

Texas does not have an income tax.  I believe he would potentially be taxed on his California income in California.

Mark

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