Four years into the SALT-cap workaround era, North Carolina and South Carolina, neighboring states with similar economies and similar income-tax structures, have taken meaningfully different paths on their pass-through entity tax elections. For clients with operations in both, the math has shifted in ways that are not obvious from the marketing materials of either department of revenue.
What follows is a side-by-side that we use internally when planning for Carolinas-based S-corps and partnerships. Citations to both states' DOR guidance are in the right rail.
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