How Does the Georgia Pass-Through Entity Tax Election Work?

Georgia House Bill 149, that went into effect January 1, 2022, created the opportunity to make pass-through entity tax (“PTET”) elections in the state. PTET elections provide a workaround of the $10,000 limitation for the amount of state and local taxes that individuals can deduct from federal taxes. Businesses that operate as S-corporations, pass-through entities, partnerships, and LLCs treated as partnerships, are all potentially eligible to take advantage of these savings.

Join Cathie Stanton, State & Local Tax Leader, and Tony Konkol, State & Local Manager, on Cherry Bekaert’s latest podcast as they discuss the intricacies of how PTET elections can benefit Georgia businesses.

Related Resources:

• State Pass-Through Entity Tax Elections – Don’t Leave Cash on the Table!
• Georgia & South Carolina Enact Pass-Through Entity Tax Election
• Pass-Through Entity Tax Update
• Pass-Through Entity Tax Services