The One Big Beautiful Bill Explained — And Why It Weakens the PTE-E
For years, pass-through entity elective taxes (PTE-E) have been essential for business owners in high-tax states. These state-level elections allowed partnerships and S-corporations to pay state income taxes at the entity level, effectively bypassing the restrictive $10,000 federal cap on state and local tax (SALT) deductions. However, the landscape changed dramatically on July 4, 2025, […]