Nearly half of the states with a state income tax have enacted an elective PTE tax that allows owners to circumvent the SALT cap. Connecticut has a mandatory PTE tax. See the map below for a list of states that have enacted an optional pass-through entity tax. Additionally, Iowa, Ohio, ...
While Democrats are eager to cut a deal that updates federal agencies' funding through next September, congressional Republicans are divided on the decision. “There are different points of view, as you would expect, about whether or not we ought to try and finish everything up this year...