Recent state tax developments for pass-through entities: Nexus over nonresident owners and apportionment income

It is critical for the owners of pass-through entities and their advisors to continually monitor changes in the complex and evolving world of state and local taxation. These changes can become a trap for the unwary and expose pass-through entities and their owners to unnecessary tax liability and penalties.

The complexities in this area of the law are compounded when pass-through entities operate in multiple states and their owners reside in various other states.

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