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New York State Budget Provides A Work Around To The Federal SALT Cap For Certain Business Entities

New York State legislature included a SALT workaround in the most recently approved budget passed on April 6, 2021. The Pass-Through Entity tax allows an eligible entity to pay New York State tax at the entity level while providing an individual a credit against their New York income tax.

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New York State Enacts Pass-Through Entity Tax as SALT Limitation Workaround | Blank Rome LLP

New York State Enacts Pass-Through Entity Tax as SALT Limitation Workaround | Blank Rome LLP
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New York State SALT Limitation Workaround For Individual Members Of Pass‑Through Entities - Tax

New York State SALT Limitation Workaround For Individual Members Of Pass‑Through Entities - Tax
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New York State Budget Agreement Includes A Pass-Through Entity Tax As A SALT Workaround - Tax

On Wednesday, April 7, 2021, the New York Legislature reached an agreement with Governor Andrew Cuomo for the fiscal year 2021-2022 state budget.

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New York State Budget Agreement Includes a Pass-Through Entity Tax as a SALT Workaround | Kramer Levin Naftalis & Frankel LLP

On Wednesday, April 7, 2021, the New York Legislature reached an agreement with Governor Andrew Cuomo for the fiscal year 2021-2022 state budget. The agreed-upon budget package includes.

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