Brooklyn, NY asked in Estate Planning, Real Estate Law, Land Use & Zoning and Landlord - Tenant for New York

Q: I want to buy a property for personal use, not for profit or rental, what kind of tax is involved if any in NY state LLC

1 Lawyer Answer
Jason D. Jones
Jason D. Jones
  • Estate Planning Lawyer
  • New York , NY
  • Licensed in New York

A: If you are only using the property for personal use then you would not put it in an LLC and you would only pay property tax.

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