State Taxation of Partnerships, LLCs, and Their Owners and an Overview of the New Federal Partnership Audit/Assessment Rules

The most popular form of business entity selected these days is a pass-through entity (PTE), and none more so than the limited liability company. There are 50 different ways the states impose taxes on PTEs, and in most states the rules are not clearly defined and even still evolving. New federal partnership audit rules enacted in late 2015 and expected to be fully implemented in 2018 will have their state corollaries as state tax administrators, the MTC, and a task force representing tax professionals struggle to address the state complications that the federal rules do not begin to touch. The panel also provides the latest update on state legislation, judicial decisions, and administrative rulings that have a significant impact on PTEs.

Other Speakers:

Jonathan M. Horn, AICPA, Washington, DC
Todd A. Hyman, Deloitte Tax, Philadelphia, PA
Steven N.J. Wlodychak, EY, Washington, DC

Bruce Ely is also the Conference Moderator.