Search results with tag "Through entity tax election"
California enacts pass-through entity tax election
www2.deloitte.compass-through entity tax election. Pass-through entity tax election • Effective for tax years beginning on or after January 1, 2021 and before January 1, 2026. • Qualifying entity is defined as a partnership or S corporation that has exclusively …
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.
Minnesota enacts pass-through entity tax election
www2.deloitte.coman entity level state tax on income for taxable years beginning after December 31, 2020, provided that the limitation for the state and local tax deduction under IRC section 164(b)(6) still applies. This Tax Alert summarizes some of the provisions of …