CA PTE - Fixes in the Governor Budget Proposal (SMLLC)

Technical topics regarding tax preparation.
#1
Wiles  
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The TMT fix made the news, but what about the SMLLC fix?

My read of the Summary makes me think the Governor wants to allow an SMLLC disregarded entity to be a qualifying taxpayer of a qualifying entity. That makes sense.

The recent Spidell update class made it sound like the proposal would allow an SMLLC disregarded entity to be a qualifying entity. I am not reading it this way.
 

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