公司有两种，corporate or passthrough entity。理论上讲，corporate 在公司收入里面付州税和联邦税，passthrough entity是shareholder自己付联邦税和州税。所以，如果你的private REIT是passthrough entity而且在N个州有收入，那么你应该报N个州的税表。
但是，Trump Tax cut只给个人10000美元的state／loca tax免税额，所以你的REIT passthrough收入会有很多double taxation。
幸运的是，应对Trump Tax Cut的1万元州税免税额，很多州通过了passthrough entity tax，允许passthrough entity在公司账户里面付州税，这样州税可以从分红里面减掉以减少联邦税。那么，有passthrough entity tax的州，你就不必再次报那个州的税了。
但是你还要报没有通过passthrough entity tax的州的收入税。
A major component of the 2017 Tax Cuts and Jobs Act (TCJA) was the $10,000 limit on the state tax deduction (SALT Cap) for individual income tax return purposes. Since the TCJA’s passing, states have been looking for workarounds to provide income tax relief for individuals. The IRS disallowed many of the state workarounds that have been proposed but approved the pass-through entity-level tax election (PTE) with the release of Notice 2020-75.
The state PTE works because the SALT Cap is applicable for only individual income tax purposes. For the state PTE, pass-through entity taxpayers, such as partnerships and S corporations, can elect to pay state income taxes at the entity-level return rather than on the personal income tax returns of the individual partners and owners.