A New Frontier in State Taxation: Pass-Through Entity Tax

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. 

2022-12-22T16:13:09-05:00December 22, 2022|Categories: Tax: Business, Tax: State & Local|Tags: , , |

Webinar Recording | Pass-Through Entity Tax: A New Frontier in State Taxation

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.

2023-01-13T13:35:11-05:00November 28, 2022|Categories: Past Events, Tax: Business, Tax: State & Local|Tags: , , , |

Pass-through Entity Elections Are Here to Stay: What You Need to Know

Pass-through entity elections are creating tax planning complexity. This article explains what you need to know and what you should do next.

2022-07-21T14:03:28-04:00July 21, 2022|Categories: Tax: Business, Tax: State & Local|Tags: , |

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.

The Build Back Better Act’s Dozen Tax Changes (UPDATED)

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.

2021-11-02T08:06:02-04:00October 29, 2021|Categories: Tax: Individual, Tax: International, Tax: State & Local|Tags: , , |

Virginia Unitary Business Report Applies to Some Exempt Organizations

Some exempt organizations will be subject to Virginia’s informational reporting requirement for unitary businesses, due July 1, 2021.

2021-06-15T10:53:47-04:00June 15, 2021|Categories: Not-for-Profit, Tax: State & Local|Tags: |

Maryland Delays Digital Ad Tax; Provides Digital Goods Clarification

The first-in-the-nation digital advertising tax is postponed for one year until 2022 while the state prepares regulations and guidance.

2021-06-04T18:20:53-04:00June 3, 2021|Categories: Tax: Business, Tax: State & Local|Tags: , , |

The Pandemic May Not Be Over, but the Office as We Knew It Is

Virtual workforce opportunities have allowed employees to become transient, potentially increasing or reducing your state tax obligations.

2021-06-02T16:46:18-04:00May 12, 2021|Categories: PBMares COVID-19 Insights, Tax: Business, Tax: State & Local|Tags: |
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