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  • California pass-thru entity new tax election

    From Taxed and Spent@21:1/5 to All on Sat Oct 9 10:43:14 2021
    The pass-through entity should pay the voluntary tax before the end of
    the 2021 calendar year in order to deduct it on their Federal 2021 tax
    return, right?

    So, how does a pass-through entity actually pay this voluntary tax?

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  • From Stuart O. Bronstein@21:1/5 to Taxed and Spent on Sat Oct 9 11:19:53 2021
    Taxed and Spent <nospamplease@nonospam.com> wrote:

    The pass-through entity should pay the voluntary tax before the
    end of the 2021 calendar year in order to deduct it on their
    Federal 2021 tax return, right?

    So, how does a pass-through entity actually pay this voluntary
    tax?

    As of last month, the Franchise Tax Board has not yet developed forms
    for this.

    By the way, for tax year 2021 the tax is due when your normal tax
    return for the year is due.

    https://www.ftb.ca.gov/about-ftb/newsroom/tax-news/september-2021/pass- through-entity-elective-tax.html


    --
    Stu
    http://DownToEarthLawyer.com

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

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    * Origin: fsxNet Usenet Gateway (21:1/5)