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Pass-Through Entities State Legislatures

Bradley Arant Boult Cummings LLP

Now That the One Big Beautiful Bill Act Is Law, How Will States Respond? - SALT Alert: Alabama Edition

This was a question often raised during the annual Council On State Taxation (COST)/Tax Leadership Roundtable Southeast Regional SALT Update held earlier this month at the Encompass Health headquarters in Birmingham. The...more

Smith Anderson

Finance Provisions of the 2021 Budget Bill

Smith Anderson on

On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more

Nutter McClennen & Fish LLP

Overriding the Governor, Massachusetts Legislature Gives Pass-Through Entity Owners a Workaround to Federal SALT Deduction Cap

The Massachusetts legislature, overriding Governor Baker’s prior veto, has voted to enact a new elective pass-through entity (“PTE”) tax designed as a way for PTE owners to get out from under the $10,000 cap ($5,000 for...more

Eversheds Sutherland (US) LLP

Georgia’s 2021 Sine Die - Thoughtful policy mixed with last minute surprises and everything in-between

During the 2021 legislative session, the Georgia General Assembly passed key legislation, including conformity to the federal tax law, the elimination of deference to subregulatory interpretations of the Department of...more

Bradley Arant Boult Cummings LLP

TCJA Reform/CARES Act Bill Introduced in both House and Senate

On January 28, HB 170 and its Senate counterpart, SB 98, were prefiled with the Alabama Legislature and designated as three separate acts: (i) The Alabama Taxpayer Stimulus Freedom Act of 2021, (ii) The Alabama Business Tax...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part X: Oregon Disconnects from IRC Section 199A

Foster Garvey PC on

As we have been discussing these past several weeks, the Tax Cuts and Jobs Act (“TCJA”) drastically changed the Federal income tax landscape. The TCJA also triggered a sea of change in the income tax laws of states like...more

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