We are a small online club and looking to see if other clubs have had this situation. Most of us (club members) have been relocating or moved around but still are involved in the club activities. We have members in PA, NY, TX & FL. Long story short, we originally established in NJ since we had most members living in NJ at that time. Now, we have no members in NJ. Does anyone know if this is an issue to have no one living in NJ but still have the partnership established there?
Thank you for your help!
Marlon Orozco
Stock Hats Investment Club
ira smilovitz on
The decision and mechanics to change the situs of a partnership are legal matters. You should discuss them with an attorney in the jurisdiction you are considering moving to. Regardless of what you choose to do, you will have to file partnership returns with NY and PA as long as you have at least one member who is a resident of those states.
We are a small online club and looking to see if other clubs have had this situation. Most of us (club members) have been relocating or moved around but still are involved in the club activities. We have members in PA, NY, TX & FL. Long story short, we originally established in NJ since we had most members living in NJ at that time. Now, we have no members in NJ. Does anyone know if this is an issue to have no one living in NJ but still have the partnership established there?
Thank you for your help!
Marlon Orozco
Stock Hats Investment Club
Marlon Orozco on
Ira,
Thanks for the feedback. We would check to see what would work.
Thanks for the additional information for NY & PA.
Best Regards,
Marlon Orozco
On Aug 17, 2020, at 12:33 AM, ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:
The decision and mechanics to change the situs of a partnership are legal matters. You should discuss them with an attorney in the jurisdiction you are considering moving to. Regardless of what you choose to do, you will have to file partnership returns with NY and PA as long as you have at least one member who is a resident of those states.
We are a small online club and looking to see if other clubs have had this situation. Most of us (club members) have been relocating or moved around but still are involved in the club activities. We have members in PA, NY, TX & FL. Long story short, we originally established in NJ since we had most members living in NJ at that time. Now, we have no members in NJ. Does anyone know if this is an issue to have no one living in NJ but still have the partnership established there?