California Expands Availability of Pass-Through Entity Tax Credit   What Happened On February 9th the Governor signed SB 113, which expands the pass-through entity elective tax benefits Details of the Benefits Repealing the tentative minimum tax limitation on the Pass-Through Entity Elective Tax Credit; Allowing partnerships/S corporations/LLCs with owners that … Read More

California Approves Workaround to State and Local Tax Deduction Limitation   What Happened On July 16th, the Governor signed AB 150, a budget trailer bill containing language outlining California’s state and local income tax (SALT) workaround via an elective passthrough entity tax. More specifically, for tax years 2021 through 2025, … Read More