New York Pass-through Entity Tax – A Potential Opportunity to Save Federal Taxes

September 15, 2021

New York Pass-through Entity Tax – A Potential Opportunity to Save Federal Taxes

September 15, 2021 | 12 PM ET

Featured Presenters

Harold Hecht, Managing Director | Mazars
Toni Mazzacca, Partner | Mazars
Harry Johnson, Senior Manager | Mazars

Description

Join us as our presenters provide background on the TCJA’s limit on state tax deductions. We will discuss what types of entities can make the PTET election, which members of the entities qualify for benefits as well as the mechanics of how to make the election. We will also cover at high level an overview of how the PTET is computed and how the individual owners claim credits on their personal income tax returns.

Learning Objectives

Upon completion of this webcast, participants will be able to:

  • Explain the Pass-through Entity Tax (PTET); and
  • Explain the potential benefits and detriments of making the election.

Additional Information

  • Who Should Attend: CFOs, Tax Directors, Controllers
  • Payment Information: There is no cost to attend this Mazars webcast.

Watch this Webcast Now

 

Contact: Shawn Garcia | Email: Shawn.Garcia@MazarsUSA.com


 


Related posts



New York State enacted a work-around for the $10,000 SALT deduction limitation in its budget bill signed into law in the spring of 2021 (see our prior Alert here).  New York has issued long-awaited guidance and clarifications on the Pass-Through Entity Tax (“PTET”) via a Taxpayer Services Bulletin issued on

Read More



The Bill After a bumpy road, on August 10, the Senate passed a $550 billion bipartisan infrastructure bill (H.R. 3684) in a 69-30 vote. The bill’s primary tax revenue raising provision is centered on new reporting obligations for transactions in digital assets. These requirements, which do not apply until 2024,

Read More



The Tax Cuts and Jobs Act of 2017 (TCJA) amended Section 451 of the Internal Revenue Code (IRC) to provide that an accrual-basis taxpayer recognizes revenue at the time the all-events test has been met, but no later than when that item is taken into account as revenue in an

Read More








Copyright 2021 - Mazars - United States