At the Table with TCPA: Pass-Through Entity Tax

We are going to host a short webinar to ‘REVISIT’ the Pass-Through Entity Tax discussed in prior webinars.  Many states have introduced Pass-Through Entity tax legislation as a workaround to the $10,000 itemized SALT tax deduction (state, local, property, etc) as a result of IRS Notice 2020-75.  The PTE legislation allows business entities to elect to pay state income tax and take tax deductions, otherwise disallowed at the individual tax return level.  This deduction, since taken at the business entity level, can also lower your Federal Income tax liability.

During this webinar, we will discuss…

1. The      purpose of the PTE tax.

2. The      time-period for which PTE can be used, currently.

3. States      that have passed PTE legislation.

4. Electing      to utilize PTE.