Georgia Plans Pass-Through Workaround for SALT Deduction Cap

Georgia taxpayers could find a way around limits on their federal income tax deductions under planned regulations from the state revenue department.

The rules, involving pass-through businesses, would make Georgia the latest state offering a response and possible way to work around the $10,000 federal cap on deductions for state and local taxes enacted as part of the 2017 federal tax overhaul.

The state’s regulations would let pass-through entities such as partnerships, limited liability companies, and S corporations make donations through Georgia’s existing tax credit ...