Tony Manners of BDO has published an article, “Georgia Enacts PTE Tax Election As Workaround To $10K Salt Cap,” which discusses the logistics of Georgia’s H.B. 149 and how it impacts taxation regarding pass-through entities (PTEs). The article begins as follows:
Georgia enacted H.B. 149 on May 4, 2021, becoming another state to give pass-through entities (PTEs) the option to be taxed at the entity level, in an effort to help individual residents avoid the federal $10,000 SALT cap that was included in the 2017 Tax Cuts and Jobs Act. Georgia’s new PTE elective tax is applicable to tax years beginning on or after January 1, 2022.
To view the full article, click here: “Georgia Enacts PTE Tax Election As Workaround To $10K Salt Cap”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal