Designed to eliminate the adverse impacts of the SALT cap, the Pass-Through Entity Tax (PTET) is an optional state income tax that taxpayers may elect to use. However, before deciding whether a PTET election is the right move, there are a variety of issues to consider.
Watch the recording from our December 7th webinar for insights on the Pass-Through Entity Tax (PTET), an optional state income tax that Pass-Through Entity taxpayers may elect to use.
Consider state and local tax ramifications, such as nexus and filing requirements, when relocating supply chain components to build resilience.
Pass-through entity elections are creating tax planning complexity. This article explains what you need to know and what you should do next.
Changes to ERC Deductions for North Carolina Employers and Expansion of NC Business Recovery Grant Program for Phase Two Applications
North Carolina’s legislature recently changed state tax laws governing employers’ ability to deduct the employee retention credit from state taxable wages and significantly expanded eligibility for a business grant program with an application deadline of June 1, 2022.
There are many tax changes proposed in the Build Back Better Act. PBMares has detailed a dozen tax changes (including an update October 28th) that would change the tax landscape and would require many taxpayers to re-evaluate their tax positions.
The Multistate Tax Commission approved new guidance on P.L. 86-272 that specifically addresses internet activities in the new economy.
Some exempt organizations will be subject to Virginia’s informational reporting requirement for unitary businesses, due July 1, 2021.
The first-in-the-nation digital advertising tax is postponed for one year until 2022 while the state prepares regulations and guidance.
Virtual workforce opportunities have allowed employees to become transient, potentially increasing or reducing your state tax obligations.