Tax Planning for 2022 and Beyond
Tax planning issues you should be aware of before the end of the year.
Tax planning issues you should be aware of before the end of the year.
California is requiring a "down-payment" on the Pass-Through Entity Tax Credit (PTE) for 2022, due June 15, 2022.
As we have mentioned before, several states, including California, have recently enacted legislation that allows S-Corporations and partnerships to pay state income taxes at the business level via their Pass-Through Entity (PTE) tax return.
Here is an example of a Pass-Through Entity Tax Worksheet for reference, with footnotes for specific line items, to show how these new regulations might effect you.