Updates from the Firm
Invitation – Tax Planning Webinar SCVMA – Monday November 7, 2022 12:30 pm
Year-end is fast approaching! Please join us for a 2022 Tax Planning Webinar hosted by the Southern California Veterinary Medical Association.
Pass-Through Entity Update – 2022 Tax Year
California is requiring a "down-payment" on the Pass-Through Entity Tax Credit (PTE) for 2022, due June 15, 2022.
New Details on Pass-Through Entity Tax
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.
Pass-Through Entity Tax Worksheet
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.