Need consulting service with a NY/NJ consolidated return

Dear tax fellows,

I don't have any experiences with consolidated return, and now I got a client who is a New York S Corporation owned two New Jersey sole member LLCs need to file a tax return.

The situation is the S Corp was formed in NY, and last year the owner formed two sole member LLCs in NJ. The New York S Corp did not register anything in NJ yet. They would like to file a consolidated return 1120-S for all three companies.

I need some advise and help to finish the return. If anyone is experienced with this kind of tax returns, please help me. I am willing to pay consulting fee.

Many thanks.

You can likely handle this. It's not really a consolidated return as we tried to learn back in school. That's for C corps mostly.

Here, you have two DISregarded entities that just get included as if they were departments or divisions. Nothing fancy.

Your only challenge is in the state returns, where you'll allocate between NJ and NY and usually fight like hell for NY to not tax the NJ income.

You can likely handle this. It's not really a consolidated return as we tried to learn back in school. That's for C corps mostly.

Here, you have two DISregarded entities that just get included as if they were departments or divisions. Nothing fancy.

Your only challenge is in the state returns, where you'll allocate between NJ and NY and usually fight like hell for NY to not tax the NJ income.

Hi, JR1,

Thank you for your reply. I am very serious about tax filings, and don't want to make any mistake on any tax return. Sometimes paying for someone's experience can save me tons of headaches. Would you like to guide me through the preparation of the tax return through emails? I will pay for your time.

Sincerely,

Ben

I'd prefer you find a NY/NJ cat to work with since those returns can be most troublesome if you don't get all the right boxes checked. We've got a few here, so just wait. Maybe change your title to include NY/NJ so they see it.

Thank you.

I would like to add that: the parent S corporation did not register to do business in New Jersey because the sub LLC is registered in New Jersey. Will it be a problem to file the parent's S Corp Return in New Jersey?