SALT Deduction Workaround 2.0
The new $10,000 federal cap on the federal itemized state and local tax deduction has created a lot of tax gymnastics at the state level. The second round of state SALT deduction workaround legislation shows greater promise by coupling a passthrough entity-level tax payment to the state with a corresponding tax credit or exclusion that reduces the partner's or shareholder's personal income tax liability to the state.
Find out more by downloading a complimentary copy of the Journal of Passthrough Entities article, States Turn to Passthrough Entity Taxes for SALT Deduction Workaround 2.0.
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