2022-02-022022-02-0212/2/2021https://dc.statelibrary.sc.gov/handle/10827/42361The purpose of this advisory opinion is to provide a brief summary of recent IRS guidance regarding a pass-through entity’s deduction of certain state and local income taxes, provide a brief review of guidance on Code Section 12-6-545(A) through (F), and address general technical and compliance questions regarding the new election in Code Section 12-6-545(G) by a qualified entity to report and pay tax on active trade or business income at the entity level.application/pdfDocumentRecords, documents, and information made available by the agencies of the South Carolina state government or its subdivisions are made accessible through the South Carolina State Library Depository and are protected under U.S. Copyright law (Title 17, U.S.C.) and South Carolina state law (Title 30 and 60, S.C.C.L.). Distribution rights are determined by the agency or author and users should contact the aforementioned for more information.Advisory opinions--South CarolinaIncome tax--South CarolinaText