- Jurisdiction
- Tennessee
I am planning to invest in startups via Crowdfunding Portals (Reg CF and A+.) Some of the offerings are for actual memberships in multi-member LLC's. These memberships would be non-managing and have no voting rights (unless otherwise required by law.) I think I understand the Federal income tax part fine. I believe Tenn. has no income tax for LLC pass-through income as it would not be classified as a dividend. However, I am trying to figure out are these investments going to make me have to file income tax returns in multiple states. As these will be small investments (say $500), the combination of tax return preparation fees (like for TurboTax) and the complexity, may outweigh the investment return.
Can anyone weigh in on the general question of me having to file State Income Tax returns? Most of these investment opportunites are films and theater productions but some are manufactuers. Thanks!
Can anyone weigh in on the general question of me having to file State Income Tax returns? Most of these investment opportunites are films and theater productions but some are manufactuers. Thanks!