Episode Synopsis "Virginia PTET Election Guide: Key Benefits and Tips"

In the most recent episode of Cherry Bekaert’s Tax Services podcast, we focus on the Virginia pass-through entity tax (PTET) election. Join Cathie Shaw, partner at Cherry Bekaert, and Tony Konkol, State and Local Tax Manager, as they navigate the intricacies of this important topic.The Virginia PTET election is a crucial consideration for businesses operating in the state. Throughout the podcast, our knowledgeable speakers address common questions and concerns and provide clarity on key issues, such as cash flow implications, refundability and the interplay with federal tax regulations.Cathie and Tony explore the benefits of making the election, including potential tax deductions and credits, as well as the practicalities of filing and deadlines. They also cover the retroactive nature of the election and tips on navigating the complexities of state tax law.Whether you're a business owner, tax professional, or simply interested in the intricacies of state tax law, this episode offers valuable insights to help you navigate the complexities of the Virginia pass-through entity tax election. Related Thought LeadershipArticle: Top 10 States for Credits and Incentives OpportunitiesArticle: How To Determine if Your Company Is Eligible for State Credits and IncentivesPodcast: How To Take Advantage of Pass-Through Entity Tax in North CarolinaPodcast: How Does the Georgia Pass-Through Entity Tax Election Work?

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