Recent FTB Clarifications on Pass-Through Entity Tax (AB-150)
RogerRossmeisl
NOVEMBER 28, 2021
Recent pass-through entity (PTE) tax (AB-150) clarifications from the Franchise Tax Board (FTB) underscore that detailed planning is critical when considering this credit. For an overview of AB-150, also see our initial 8/15/21 post on this subject: “California AB-150 Provides SALT Cap Workaround“ PTE Election The election to pay the tax is: made annually, is irrevocable, and can only be made on an original, timely filed return, including extensions PTE Tax Due Date (2021 Tax Year) F
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