what’s pass-through entity elective tax Archives - Hackstaff, Snow, Atkinson & Griess, LLC

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What Is Pass-through Tax Entity Elective Tax Status?

States are moving at an unprecedented speed to respond to the $10,000 federal cap on deducting state and local taxes. Many are offering what’s known as optional pass-through entity tax status as a workaround.   For those who form eligible pass-through entities, this tax status allows individuals to deduct state taxes for federal tax purposes. It […]