What if you have a net loss on the property? example: my gross profit was 19K but my expenses total 26K resulting in a net loss. Do I still need to fill a return with the state the home is in? 

Thanks for clarifying. Follow up - despite grossing over $19K, should I expect to pay taxes to that state despite a net rental loss? For example - the state is MI and their asking for $800 on a $6000 net loss.  

I live in California and plan to possibly purchase a rental property in Florida which have no income taxes. Since it appears I won't need to report any rental income in the state of Florida, I will be free of any tax liability for all the income generated there?  Thank you.

California does not require you to file when you have a net loss.  However, you may still wish to do so in order to record the loss and to avoid notices from California asking for a return (which is pretty notorious in this regard.) 

@jamianddaniel

Whether your rental property is part of your limited liability company or not does not matter for tax purposes.  To the extent your earn rental income and incur rental expenses, you would still report that income and expenses on your federal return.  It appears you may be a resident of CA, and therefore, the amounts on your federal return regarding your rental property will transfer to your CA return.   

You indicated that your rental expenses are greater than your rental income, and therefore, you are correct in that you have no rental income subject to tax.  Assuming your rental income/loss is passive in nature, then your passive losses can only be used to offset passive income.  If your passive losses exceed your passive income, those losses will just carry over to the next year and will continue to carry over year after year until they are completely used up.  If your rental activities are such that you are a Real Estate Professional or if your rental activity can be fairly characterized as "active participation," you will have more options with regard to how you handle your rental losses.  TurboTax will ask you questions about your rental activities to determine the nature and character of those activities so that you get the best deductions. 

FL has no state income tax.   So there is no FL income tax return to complete with regard to your rental income.  However, FL does have a Sales and Tourist Tax.  The Sales and Tourist Tax is only applicable when you rent your property as a short term rental.  In this regard, rentals for 6 months or less are subject to a Florida State sales tax of 6%, a local tax of between .5% and 1% and also a County tourist tax (between 4% and 5%, depending on the County). You or your property management company will originally register for these, then each month, you must file and declare the rents you have charged. You must file monthly even if you have had no rents that month, otherwise you will be charged a penalty.  Sales and tourist taxes do not actually cost you anything, because you charge the tax to your guest and then remit this tax to the government.  Long term rentals (for more than 6 months to the same tenant) are not subject to sales and tourist tax.

FL also has a tangible personal property tax.  Any business owner or self-employed contractor owning tangible personal property on January 1st must file a return each year as required by Florida Statutes 193.052, and 193.062.  Property owners that loan, lease or rent tangible property to others must also report such property.  With regard to rental unit owners, furniture and fixtures in rental condominiums and apartments must be reported.

@rammr100 --

The Minnesota tax return requires that your total federal income be entered on the form, but only your MN-sourced income will be taxed.  Your W-2 earnings from Texas will not be taxed by Minnesota.