State Pass Through Entity (PTE) Tax Self-Study Webinar (2.5 Hours)

Overview: 

With more states offering qualified businesses and individuals the option to bypass the $10,000 SALT cap set by the TCJA, PTEs (Pass Through Entities) are becoming increasingly popular. While specific rules vary from state to state, the PTE has the potential to lower both the federal taxable income reported—and liability paid—by the taxpayer. However, the compliance burdens of PTEs can be daunting and confusing, especially for those taxpayers involved in multistate activities. In this self-study webinar, an expert panel will bring you up-to-speed on:

  • PTE-related state and federal tax laws and IRS regulations
  • State elections for PTE tax
  • The compliance process: state requirements, estimated paymentsand who qualifies?
  • Best practices for simplifying the process

    ...and much more

Objective: 

To provide tax professionals with expert guidance on taking advantage of the state Pass Through Entity (PTE) tax, which allows qualified businesses and individuals to bypass the federal limit on SALT deductions.

 

SPEAKERS:

Mary Jo Dolson, State & Local Tax Partner, Marcum LLP

Jill Scher, Business & Tax Services, Marcum LLP

Elil Shunmugavel Arasu, State & Local Tax Managing Director, BDO

Emphasis: 
  • Federal Regulations
  • Legislative Actions
  • State PTE Tax Elections
  • Electronic Elections, Reporting & Transactions (Filing, Payment, etc.)
  • Required Documentation
  • PTE Tax Base
  • Guaranteed & Estimated Payments
  • Tax Benefits
  • State & Resident Tax Payments

 

• Recognize the effect of the SALT deduction limitation on individual taxpayers residing in high-tax states

• Recognize the impact of IRS Notice 2020-75 on state legislatures in reference to the SALT deduction limitation

• Identify the trends in states’ approach to their pass-through entity (PTE) tax structure

• Identify specific state PTE tax legislative characteristics

• Recognize PTE tax consideration variables common to all states

Bottom
Price: 
$129.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.50
NASBA Field of Study: 
Taxes