All Forum Posts by: Tony Haas

I'm a new investor and am wanting to build my network. Looking for real estate agents in Oxford, MS that work well with investors. Who are the people I need to know in Oxford?

Thanks in advance!

Tony

Thanks for all replys! Definitely appreciate the feedback.

Note: I am only a little over a month in deciding to learn more about real estate, but have been researching like crazy! I feel decent about my ability to run numbers, but I am currently feeling a little overwhelmed on how to choose a property. There is so much out there!  I have been looking in Greater Memphis Area and Oxford, MS. Anyone have any suggestions on narrowing down the choices? I am currently using Zillow and Realtor.com apps to look for properties. Looking at the Zillow rental map​ in Cordova, TN (suburb of Memphis) and Oxford, MS, it appears the area is saturated with rentals. Should this deter me from investing in these locations? I appreciate all the input offered! Thanks, Tony

Gloria,

Based on the excerpt below from the TN Business Tax Guide (google this for your reference), operators of residential and non-residential buildings other than hotels, motels, or rooming houses are exempt. I would recommend reviewing the guide to determine if your LLC has any activity that would cause it to be subject to the TN business tax. I would also call the TNDOR to discuss how to resolve if you determime the LLC is exempt.

Good luck!

Other Exemptions

The following types of activities are exempt from business tax on receipts from services

but are subject to business tax on receipts

from sales of tangible personal property.

[Tenn. Code Ann. § 67-4-708(3)C) and Tenn.

Comp. R. & Regs. 1320-4-5-.16]:

+ Medical and allied health services,

except services of persons making

dentures and artificial teeth.

+ Religious, charitable, legal, educational,

domestic, accounting services,

architecture, engineering, surveying,

and veterinary services.

+ Services rendered by nonprofit

membership organizations for the

promotion of the interest of the

members.

+ Nonprofit educational and research

agencies.

+ Public utilities as defined under Tenn.

Code Ann. § 65-4-101.

+ Banks, building and loan associations,

mortgage bankers, and other similar

organizations.

+ Insurance companies and holding

companies.

+ Operators of residential and non-

residential buildings other than hotels,

motels, or rooming houses.

+ Persons operating camps and trailer

parks where charges are made for rental

only of real property are exempt from

the tax. Persons renting trailers to

transients, or selling tangible personal

property, or making separate charges

for specific services are not exempt.

+ Lessors of agricultural, forestry, mining,

oil, public utility, and airport properties.

+ Farmers providing qualifying services to

other farmers.