Tag Archives: California Tax

California Passthrough Entity Elective Tax (PTET)

The California passthrough entity elective tax (PTET) is intended to give relief to taxpayers affected by the limitation on deductibility of state and local taxes (SALT) introduced a few years ago. The idea is that your S corporation, partnership or LLC (but not a single member LLC) can elect to pay a 9.3% tax on …

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“Doing Business” in California

“What do you mean I have to pay California tax on my LLC? It’s registered in (name a state)” How many times have I heard a California client say that in an outraged tone? Many people register their LLCs in other states, in an effort to avoid California taxes. There was a time when TV …

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