Is the pass through entity tax election still worth it after the higher SALT cap? For many owners of profitable pass-throughs in high-tax states, the answer is still yes — but the analysis is now owner-level, state-specific, and no longer automatic. The pass through entity tax (PTET) survived the 2025 SALT cap increase; the decision…
Does my state follow the new federal OBBBA tax breaks? Not automatically. OBBBA state conformity varies widely — some states adopt the new federal rules on R&D expensing, bonus depreciation, and Section 179, while others decouple. A deduction you claim on your federal return may be added right back on your state return. The One…
What changed in state and local tax in early-to-mid June 2026? A busy stretch: the U.S. Supreme Court declined to hear Florida’s challenge to California’s single-sales-factor apportionment; New York enacted a budget that extends its top corporate rate, decouples from some OBBBA provisions, and adds a “pied-à-terre” surcharge; Texas adopted cost-of-goods-sold rule changes for franchise…
What are the most important state tax updates April 2026? Multiple states moved on OBBBA conformity (Oregon, Maine, Kentucky, New Mexico), Maine created a new PTET and 2% high-income surcharge, Wisconsin extended R&D credit carryforwards to 50 years, Kentucky added a 14.25% prediction-market excise, and Washington’s new 9.9% personal income tax on income over $1M…
