“Update: State Pass-through Entity
Taxes Beat the SALT”
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with all the details…
Definitions
PTE: Pass-through entity
PTET: State pass-through entity taxes
SALT: State and local taxes
Are you the individual owner of a partnership, multi-member LLC, or S corporation?
Then my new article makes must reading.
Increasingly state PTEs enable you to get around the
$10,000 limit on SALT.
How is this done?
By having their PTE pay state income taxes due on its income and then claiming a federal deduction for the payment.
NOTE #1: Almost all states with income taxes have now enacted some form of owner-beneficial pass-through entity tax, including seven new states during 2023 alone.
I’ll provide a full list of all the states participating when you read my new article.
NOTE #2: Adopting a PTET regime costs states nothing and benefits pass-through business owners.
Get the whole story – it’s complicated I know.
That’s why I’ve explained all the important facts in my new article. To find out more…
CLICK HERE and read my completely new article titled:
“Update: State Pass-through Entity Taxes
Beat the SALT”