Georgia House Bill 149, that went into effect January 1, 2022, created the opportunity to make pass-through entity tax (PTET) elections in the state. PTET elections provide a workaround of the $10,000 limitation for the amount of state and local taxes that individuals can deduct from federal taxes. Businesses that operate as S-corporations, pass-through entities, partnerships, and LLCs treated as partnerships, are all potentially eligible to take advantage of these savings.
Join Cathie Shaw, State & Local Tax Leader, and Tony Konkol, State & Local Manager, on Cherry Bekaert’s latest podcast as they discuss the intricacies of how PTET elections can benefit Georgia businesses.
Related Insights
- State Pass-Through Entity Tax Elections – Don’t Leave Cash on the Table!
- Georgia & South Carolina Enact Pass-Through Entity Tax Election
- Pass-Through Entity Tax Update
View All Tax Services Podcasts
