In this episode of Practical Tax, Steve and Cliff bring you breaking news of a new legislative change that could benefit California taxpayers.
California just enacted Senate Bill 113 (SB 113), which made California’s new pass-through entity elective tax much more attractive for certain owners of S corporations, partnerships, and LLCs taxed as a partnership or S corporation. Many of the limitations and drawbacks to paying this tax were just recently removed by SB 113. Now, this pass-through entity elective tax can dramatically reduce the tax liability of many more taxpayers.
Listen to the podcast to learn more!
