State Pass-Through Entity Taxes: Implications for Entities and their Owners

A number of states have enacted an elective pass-through entity tax regime including California, Illinois, and New York. We’ll discuss:

• The subtleties of these state pass-through entity tax regimes as well as the potential impact of electing into them
• Structural considerations when electing into regimes
• The federal tax treatment of the tax expense relating to these regimes