State Pass-Through Entity Tax Elections: Evaluating Benefits and Drawbacks
TAX PLANNING | 5/2/2024 More than 20 states now allow pass-through entities (PTEs) to elect taxation at the entity level. This approach helps members bypass the federal $10,000 limit on itemized deductions for state and local taxes (SALT), offering potential tax-saving benefits. At Chartered Consulting LLP, we provide insight into navigating these PTE tax elections …