KPMG report: State and local tax changes affecting entities in asset management industry in 2023
Significant state and local tax developments that may affect return and/or payment obligations of companies engaged in the asset management industry
State and local tax changes affecting entities in asset management industry in 2023
Changes to state and local laws, as well as court decisions and state administrative actions, can have a significant effect on an entity’s filing and payment obligations, including companies engaged in the asset management industry.
Read a February 2024 report [PDF 437 KB] prepared by the KPMG LLP State and Local Tax (SALT) practice that summarizes significant state and local tax developments that may affect return and/or payment obligations of companies engaged in the asset management industry for tax years beginning in 2023, and includes a table listing states that have enacted a passthrough entity tax as a workaround for the federal SALT cap on taxes that may be deducted as an itemized deduction.
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