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State and local taxes imposed at the entity level on pass-through entities are permitted as a deduction and this "is consistent with the longstanding position" of the U.S. Department of the Treasury and the Internal Revenue Service the agencies said Monday.
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Monday, November 9, 2020 Follow Law360

BREAKING: Treasury To Say Pass-through SALT Workarounds OK

State and local taxes imposed at the entity level on pass-through entities are permitted as a deduction and this "is consistent with the longstanding position" of the U.S. Department of the Treasury and the Internal Revenue Service the agencies said Monday.

GOVERNMENT AGENCIES

Internal Revenue Service

U.S. Department of the Treasury
 

 

 
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