Pass-through entity (PTE) guidance has rapidly been changing state-by-state since the IRS issued Notice 2020-75 on November 9, 2020. After that notice was released, almost 30 states have passed new PTE related legislation. With this developing landscape, we turn to Cathie Stanton, a Tax Partner and national leader of the firm’s State & Local Tax practice, and Tony Konkol, a Strategic Tax Manager, to share their latest PTE insights with Brooks Nelson and Sarah McGregor on this addition of the Tax Beat Podcast.

In this edition of our Podcast, our knowledgeable leaders discussed:

  • 4:55 – Why Have There Been Fast Changes to PTE Taxation?
  • 9:26 – Credit Method and Income Reduction Definitions
  • 12:32 – Issues and Considerations When Implementing a PTE Election
  • 22:02 – What Makes a Good Candidate for PTE Election?
  • 23:23 – Key To-Do’s for PTE Election

If you have any questions specific to your business needs, Cherry Bekaert’s State & Local Tax advisors are available to discuss your situation with you.

Additional Insights

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Sarah McGregor

Tax Services

Director, Cherry Bekaert Advisory LLC

Brooks E. Nelson

Tax Services

Partner, Cherry Bekaert Advisory LLC

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