Bloomberg Tax
April 28, 2023, 5:46 PM

More SALT Workarounds Ahead as States Add Pass-Through Tax

Annie Goulart
Laura Holt

Differences in the application of extensions, retroactivity, estimated payments, and credits remain the key elements that practitioners must navigate when dealing with the varying approaches to pass-through entity taxes.

Indiana, Kentucky and West Virginia are the most recent states to enact legislation to reduce the effect of the 2017 $10,000 SALT cap deduction limitation for individuals who conduct business through a pass-through entity.

“PTE owners and their tax advisors need to carefully model the tax implications of electing into one or more of these PTE taxes, because they can have unanticipated consequences depending on the entity’s business footprint, the nuances ...

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