Sep 1, 2021 | News & Events, Specialty Tax, Tax
What are the effective dates of the new tax? The elective pass through entity tax (PTE) is effective for tax years beginning 1/1/2021 and before 1/1/2026. The California PTE will terminate prior to 1/1/2026 upon termination of the current federal $10,000 limitation...
Jul 27, 2021 | Uncategorized
Effective July 16, 2021, California Assembly Bill 150 (2021 Cal. Stat. Ch. 82) (AB 150), signed into law by Governor Gavin Newsom, establishes a new elective pass-through entity-level tax (PTE tax) of 9.3% for tax years beginning on or after January 1, 2021 and before...
Jan 19, 2021 | International, Tax
If an individual is an alien (not a U.S. citizen), they are considered a nonresident alien unless they meet one of two tests. They are a resident alien of the United States for tax purposes if you meet either the green card test or the substantial presence test for...
