Passthrough entities would lose ground compared with corporations under tax language in the Senate Finance Committee bill, the AICPA said in a letter to legislative finance leaders.
Advertisement
TOPICS / TAX
State & local tax (SALT)
Tax provisions of Senate Finance’s version of the budget bill
The 549-page text calls for making many provisions of the Tax Cuts and Jobs Act permanent. The committee says that the SALT cap amount is “the subject of continuing negotiations.”
What some state CPA leaders are saying about PTET SALT deduction
CPA societies from 53 states and jurisdictions have backed the AICPA in the PTET SALT deduction effort. On Thursday, five state CPA leaders explained more about why they want the deduction preserved.
53 CPA societies back AICPA in PTET SALT deduction effort
A letter from the AICPA and CPA societies in 53 states and jurisdictions criticizes the provision in the House version of the budget bill that would eliminate the state and local tax deduction for certain passthrough entities.
House passes budget reconciliation bill with changes to tax provisions
Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been amended by the Rules Committee, and it now goes to the Senate for consideration.
Uniform nonresident state income tax, withholding rules get AICPA support
A Senate bill would bar states from imposing tax and withholding on out-of-state workers who work for no more than 30 days within its borders. An AICPA letter described the bill as “critically important.”
Tax planning for the SALT cap
Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.
Update on states moving ahead with PTETs
States continue to move ahead with implementing new passthrough entity taxes as a workaround to the $10,000 cap on the federal deduction of state and local taxes.
Understand the tax consequences of remote work
CPAs can play crucial roles in helping navigate the evolving landscape as state tax authorities ramp up efforts to source additional revenue from out-of-state workers and the companies they work for.
Developments in state income tax nexus for remote sellers
A movement to reframe the Interstate Income Act of 1959, which limits the reach of state income taxes on remote sellers, could have a significant impact on state income tax nexus in today’s world, where the internet has changed the nature of practically every business.
Handling sales tax nexus audits
Be wary when a state sends a nexus questionnaire.
Senate Finance airs post-Wayfair sales tax burdens
Small business owners describe scrambling to comply with varying sales tax compliance rules across a welter of jurisdictions.
Tax update: S elections, PTE, and Sec. 1202
EY’s Tony Nitti, CPA, shares a preview of general business update topics before his presentation at ENGAGE.
SALT cap challenge is denied Supreme Court review
The $10,000 limitation on deducting state and local taxes stands after the Supreme Court refused to review a long-running lawsuit by New York and three other states.
Recruiting, flexible working, and tax season issues for small firms
An AICPA vice president explains some of the key practice management concerns of smaller CPA firms — talent, technology, and tax season — in this podcast episode with transcript.
Second Circuit: SALT cap is not unconstitutional
The $10,000 maximum deduction for state and local taxes is upheld by the Second Circuit.
Sales tax: Nearly 4 years after Wayfair, what’s on the horizon
An interview with a tax expert explores how a Supreme Court ruling created a new playing field for business and how practitioners can advise clients on related issues.
SALT payments before year end a priority for passthroughs
To be deductible at the entity level, payments by passthrough entities of state and local taxes should be made in the tax year of the liability, but state-specific elections may complicate that timing, tax advocates advise.
Supreme Court declines to take up remote worker taxation case
The US Supreme Court declined to allow New Hampshire to sue Massachusetts over a pandemic-related regulation that allows Massachusetts to continue to collect state income tax from remote workers who normally work in Massachusetts.
Professional services tax proposals discussed in multiple states
Proposed legislation in several places sought to tax accounting services but was opposed by the AICPA and others.
Features
FROM THIS MONTH'S ISSUE
Building a better CPA firm: Stepping up service offerings
A key step in business model modernization is determining how to implement services that satisfy clients and employees.
From The Tax Adviser
August 30, 2025
2025 tax software survey
July 31, 2025
