Thank you for your question. Limited Liability Corporations (LLCs) are not taxed on their profits directly. Instead, profits “pass through” the business and the LLCs members report the profits on their personal federal and state tax returns (if the state has a personal income tax).
Given that you legally reside in the same state that your LLC is located in, that state should not classify you as a “foreign resident” for state income tax purposes – even if you are living in another state as a non-resident and working in a full-time role there. You should file and report your LLC’s income in your home state as you normally would and file and report your full-time job income in a non-resident return in the state where your full-time job is located. The non-resident state will still want you to report the LLC income but most grant tax credits that will help you avoid paying taxes twice on the company’s profits. Because each state has a different tax scheme, however, I would encourage you to message me with the actual names of the states where you are doing business so I can provide advice that is precisely tailored to your needs. I hope this helps.
Need tax help?has tax lawyers to assist you with your various tax issues. Feel free to message me with any questions!