State Taxation of Passthrough Entities and the Federal Deduction (Completed)

As a result of the SALT deduction limitation imposed as part of the Tax Cuts and Jobs Act, a number of states, including Connecticut, New Jersey, and now New York, have enacted Passthrough Entity (PTE) taxes, joining a handful of other jurisdictions that impose tax on flow-through entities rather than their owners.

This webinar will take you through some of the similarities and differences of these taxes and some of the questions arising as these new taxes are implemented. We will also look at recent IRS guidance on the federal deduction for the PTE taxes to examine the potential federal tax benefits of these SALT deduction workarounds.

Topics Covered

• Similarities and differences of these taxes
• Some of the questions arising as these new taxes are implemented
• Recent IRS guidance on the federal deduction for the PTE taxes

Learning Objectives

• Recognize some of the similarities and differences of these taxes
• Identify some of the questions arising as these new taxes are implemented
• Describe recent IRS guidance on the federal deduction for the PTE taxes

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None