In general, investment vehicles formed on Sydecar are not considered to be doing business in any state. As a result, state tax returns are usually not required. However, in some cases, Sydecar may be obligated to file state tax returns because certain states require them if there are investors who reside in those states. Resident investors will need this information for their state tax returns.
Sydecar automatically generates state tax information* for all LPs, regardless of residency. Sydecar provides this state tax information in case a non-resident LP has a filing obligation in that state. Each individual tax situation is unique, so please consult your tax advisor to determine your individual state filing requirements.
*State tax forms vary by state but are very similar to the IRS Schedule K-1