This message has been cross posted to the following Discussions: NASSAUSUFFOLK and ncCPAp on the GO! .
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A client is actively considering an investment in New York (Long Island City). There are significant Brownfield credits they can take advantage of in the Partnership and pass-thru to the members.
There is some question whether a family LLC that will hold the investment with the brownfield credits needs to be an LLC organized under New York law or (ii) an LLC could qualify for the credits if it were to have an office in, file taxes in (qualify to do business as a foreign limited liability company) in the state of New York. The LLC files in NY as their base for years. Originally owned property in NY. For some reason (can you say attorney) organized years ago in DE.
Members under Article 22.
Has anyone dealt with this particular issue?
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Jeffrey Winer
WINER CPA PC
Framingham MA
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