Search results with tag "Entity level"
IRS Blesses SALT Cap Workaround: What’s Next in 2021?
www.hodgsonruss.comtreatment of state taxes paid at the entity level. Will all states treat entity-level taxes as creditable for purposes of resident income taxes, or will nonresident partners and shareholders be harmed 1 See Sam McQuillan, “SALT Cap Pass-Through Workaround Holds Up After New IRS Rules,” Bloomberg Tax, Aug. 11, 2020. See also Treas.
2020 Legislative Changes and 2020 Tax Changes
revenue.louisiana.govThe exclusion is for an individual who is a shareholder, member, or partner of an entity that made the pass- through entity tax election under R.S. 47:287.732.2. The election allows S corporations, and other entities taxed as partnerships for federal income tax purposes, to pay Louisiana income tax at the entity level.
The Nuts and Bolts of New York’s New Passthrough Entity Tax
www.hodgsonruss.comthe tax at the entity level. The election must be made each year by March 15, when the first estimated payment is due. In 2021, however, the election must be made by October 15. The PTE Tax Election Question: My partnership timely made the election, but our accountant told us that it wasn’t a good idea to elect into the PTE tax. Can we
Partnership Equity Compensation
www.fdh.comthe entity level, and net income or loss is then allocated among the capital accounts of the partners according to the economic arrangement concerning the sharing of profits and losses. Distributions Distributions are payments made to partners out of their capital accounts (essentially a withdrawal of a partner's pass-through