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Federal Legislation Proposed Impacting Pass-Through Entity Tax
Legislation has been proposed that includes language that would disadvantage specified service trades or businesses (SSTBs), including accountants, by subjecting them to the individual cap on state and local income tax deductions at the federal level regardless of the partners’ or owners’ income level or the state in which they reside. The AICPA and OSCPA have issued an action alert in opposition of the bill in its current form.
The Oklahoma Society of Certified Public Accountants represents Oklahoma CPAs on a timely, responsive, and creative basis, by promoting the public image and professionalism of CPAs; protecting the interests and designation of CPAs; by providing member services, including quality education and opportunities for interaction; and by building and developing leadership skills among CPAs.
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