WEBCAST

Family Office Fridays: Elective Passthrough Entity Taxes and the Potential Benefit for Taxpayers

Webcast overview

In response to the federal limitation on state and local taxes imposed on individual taxpayers through the Tax Cuts and Jobs Act, many states have enacted legislation allowing a passthrough entity to elect to pay taxes based on income at the passthrough entity level, and thereafter, provide an owner a credit or deduction for the taxes paid by the passthrough entity. There are several considerations at the federal and state level in determining whether a passthrough entity may take advantage of such elections, and even further considerations as to whether such an election may be appropriate when reviewing the potential federal and state impact on all the owners of the passthrough entity.

Please join KPMG LLP for a webcast with professionals from our Washington National Tax practice that will discuss the following considerations in addressing the passthrough entity tax regimes:

  • Potential federal and state tax benefits to passthrough owners from participating in one or more elective passthrough entity tax regimes.
  • Concerns around eligibility of making a passthrough entity tax election and considerations around timing of eligible state payments for cash and accrual taxpayers.
  • Unique issues impacting allocations and reporting through partnerships and S corporations.
  • Determining whether a passthrough owner’s resident state will allow a credit for taxes paid by the entity to other states, and other individual-level tax deductibility concerns.

Please join us for what promises to be an insightful and informative webcast.

After registering, you will receive details on how to log in to the webcast or dial in for audio-only participation. Continuing professional education (CPE) credit is available to U.S. participants who meet the eligibility requirements.

Moderator

Robert Keller

Robert Keller

Partner, Passthroughs, Washington National Tax, KPMG US

Featured Speakers

Sarah I. Staudenraus

Sarah I. Staudenraus

Partner, Passthroughs, Washington National Tax, KPMG US

Carol Conjura

Carol Conjura

Partner, Income Tax & Accounting, Washington National Tax, KPMG US

Bradley R. Wilhelmson

Bradley R. Wilhelmson

Senior Manager, Tax, KPMG US

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