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Web Pay PTEs can make payments electronically at the FTBs website using Web Pay for Businesses. PTEs can make an immediate payment or schedule payments up to a year in advance. Go to ftb.ca.gov/pay for more information. If paying electronically, do not file form FTB 3893.
Mississippi House Bill 1691, Pass-through Entity Tax (PTET), provides certain individual taxpayers a useful workaround of the $10,000 State and Local Tax (SALT) deduction limitation established by the federal 2017 Tax Cuts and Jobs Act.
Pass-through income is only subject to a single layer of income tax and is generally taxed as ordinary income up to the maximum 37 percent rate. However, certain pass-through income is eligible for a 20 percent deduction, which reduces the top tax rate to a maximum of 29.6 percent.
The optional tax allows eligible PTEs to shift the payment of state income taxes to the entity. Those income taxes can then be fully deducted for federal tax purposes by the entity. The deduction is passed through in the distributive share of the PTE owners income.
Pass-through businesses include sole proprietorships, partnerships, limited liability companies, and S-corporations.
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A pass-through is exempt from business taxes. It passes earnings straight through to stakeholders, who do owe taxes on it. But the money is only taxed once. A pass-through entity also affords owners and investors an extra deduction on their personal taxes in some cases.
Most US businesses are taxed as pass-through (or flow-through) entities that, unlike C-corporations, are not subject to the corporate income tax or any other entity-level tax. Instead, their owners or members include their allocated shares of profits in taxable income under the individual income tax.
The state requires corporations to pay either $800 or the corporations net income multiplied by its applicable corporate tax rate, whichever is larger. You may pay the tax online, by mail, or in person at the California Franchise Tax Board Field Offices.
Californias Franchise Tax Board has made it easier to pay your individual and business state-related taxes online.
A pass-through business is a sole proprietorship, partnership, or S corporation that is not subject to the corporate income tax; instead, this business reports its income on the individual income tax returns of the owners and is taxed at individual income tax rates.

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