PTET Elections Still Matter: How NC (and CA) S Corps / Partnerships Can Ease the Federal SALT Cap—Compliance Planning
Even with a ~$40,000 federal SALT cap, North Carolina’s Taxed PTE election (S corps / partnerships) and California’s 9.3% PTE tax can still ease individual SALT pressure via entity-level state tax and federal entity deduction. Elect on a timely return—once filed, the NC election cannot be changed. Cary/RTP owners: model before you file.
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