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Do states' SALT workarounds benefit the micro business owner?
['Assistant Teaching Professor', 'University Of Colorado Boulder', 'Senior Lecturer', 'Metropolitan State University Of Denver']
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This change dramatically alters the cost-benefit analysis of the SALT workarounds.
Scenario B: $40,000 SALT cap: With a $40,000 cap, the same taxpayer could deduct their entire $18,750 SALT burden without the need for entity-level taxation.
Ethical considerations of SALT workaroundsThe SALT cap was originally enacted because the SALT deduction disproportionately benefits upper-income households who itemize deductions and live in high-tax states.
SALT workarounds were enacted to combat congressional intent, occupying an ambiguous ethical space.
The $10,000 SALT limitation prompted states to devise creative workarounds that helped some but not all taxpayers.