Bradley attorney Bruce Ely was quoted in Bloomberg Tax on SALT cap workarounds to expect in 2020. High-tax states had little luck challenging the $10,000 federal cap on individual taxpayer deductions for state and local taxes in 2019, and it appears 2020 will be no different. As a result, business-related workarounds are shaping up to be the best option for states opposed to the cap.
“It’s a reasonable alternative,” Ely said. “I think you’re going to see a number of states adopt these entity-level taxes next year.”
The complete article, “States Face Uphill Battle to Ditch the SALT Cap in 2020,” first appeared in Bloomberg Tax on December 26, 2019.