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michigan pass-through entity tax

Should you make the Michigan flow-through Entity Tax Election?

MICHIGAN FLOW-THROUGH ENTITY TAX ELECTION  House Bill 5376, enacted on December 20, 2021, by Michigan Governor Whitmer, offers owners of Michigan pass-through entities (e.g., LLCs and S Corporations) a workaround to the state and local tax (“SALT”) deduction limitation enacted by the Tax Cuts and Jobs Act (“TCJA”) for as long as the aforementioned provision …

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