Minnesota’s New Pass-through Entity Tax – A SALT Cap Workaround for Business Owners
September 16, 2021 by Staff
The 2017 Tax Cuts and Jobs Act (TCJA) limited the itemized deduction for state and local taxes (SALT) to $10,000. Many states enacted laws to work around this limitation and support business owners by allowing the business to pay and deduct the tax. Minnesota has now enacted its own Pass-Through...
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