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Minnesota Tax Law Questions & Answers
1 Answer | Asked in Tax Law and Business Formation for Minnesota on
Q: Right now I operate multiple eCommerce websites under one LLC . I want separate each into their own LLC. is that a good?
Lucas Wynne
Lucas Wynne
answered on Mar 7, 2017

There is too little information to provide you advice on this matter.

1 Answer | Asked in Tax Law for Minnesota on
Q: I pd 250000 for farm . I now will sell part of land for 130000, is there cap gain tax or do u recover the 250000 first?
Jennifer Louise Long
Jennifer Louise Long
answered on Sep 29, 2013

When property is sold or exchanged you may be taxed on the gain. A gain is the amount you realize from a sale or exchange of property that is more than its adjusted basis. Generally, the adjusted basis is the cost of the property. The amount you realize is defined as the money you receive plus the... View More

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