Tax benefit for a club if registered in NY Vs Florida

John Rice on

What state is your club registered in? You need to file in that state.

John RIce

On Sun, Mar 9, 2025 at 12:34 PM Anat Benjamin via bivio.com <user*22119300001@bivio.com> wrote:

My club has members living both in NY and/or Florida.
Is there a tax advantage to using a Florida address for the
club vs New York. Is there a tax benefit to the club
members?

ira smilovitz on

Either way, you will have to file in NY because it requires a return if any member is a resident. FL has no personal income tax, so investment clubs don't have to file unless they have a corporate partner.

Ira Smilovitz

On Sun, Mar 9, 2025 at 6:38 PM John Rice via bivio.com <user*24380400001@bivio.com> wrote:

What state is your club registered in? You need to file in that state.

John RIce

On Sun, Mar 9, 2025 at 12:34 PM Anat Benjamin via bivio.com <user*22119300001@bivio.com> wrote:
My club has members living both in NY and/or Florida.
Is there a tax advantage to using a Florida address for the
club vs New York. Is there a tax benefit to the club
members?

Carole Jansen on

On Sun, Mar 9, 2025, 5:49 PM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:

Either way, you will have to file in NY because it requires a return if any member is a resident. FL has no personal income tax, so investment clubs don't have to file unless they have a corporate partner.

Ira Smilovitz

On Sun, Mar 9, 2025 at 6:38 PM John Rice via bivio.com <user*24380400001@bivio.com> wrote:
What state is your club registered in? You need to file in that state.

John RIce

On Sun, Mar 9, 2025 at 12:34 PM Anat Benjamin via bivio.com <user*22119300001@bivio.com> wrote:
My club has members living both in NY and/or Florida.
Is there a tax advantage to using a Florida address for the
club vs New York. Is there a tax benefit to the club
members?

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