Hot and Cajun-Spicy Issues in the State Tax World of Pass-Through Entities

American Bar Association – Virtual 2022 ABA/IPT Advanced Tax Seminars



Thursday, March 17, 2022
12:15 PM-1:15 PM EST

Despite the burdens imposed by the pandemic, major legislative, administrative and judicial developments affecting the state taxation of pass-through entities occurred over the past two years. This panel will address the rise and multistate challenges of the new and surprisingly different state PTE taxes enacted throughout the U.S. to offset the effects of the federal SALT deduction limitation. Likewise, several recent conflicting state court rulings seem to question the method of sourcing the gain from the sale of ownerships interests in PTEs. The panel will also provide an overview of the significant project the Multistate Tax Commission has undertaken, the stated goal of which is to establish uniform principles for the state taxation of partnerships. The presentation will include several other notable legislative enactments, decisions, and administrative rulings.

After attending the session, the participant will be able to:

  • Prepare for the new challenges facing pass-through entities
  • Discuss when PTEs can and should “push back” against unreasonable audit assessments
  • Know how to structure PTE operations to minimize exposure
  • Identify the trends in PTE taxation to watch to avoid problems

Other Speakers:

Jaye A. Calhoun, Kean Miller LLP
Charles J. Moll III, McDermott Will & Emery LLP
Steven N.J. Wlodychak, Ernst & Young LLP