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Haha. Sorry, should have said "the owner lives in MD"Appreciate the info from everyone. Sounds like the allocation is handled on the state corporate returns. I'...
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Yes, MD has a Pass through entity (PTE) tax that is paid at the S Corp level. How do you elect on the 1120S to allocate the income to MD or another state? That ...
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I have an S Corp that is going to start doing business in another state (DE). He lives in MD. The two states do not have reciprocity.Obviously his P&L will need...
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Yes, we paid the Non Resident tax at the S Corp level, which he is getting credit for on his DE Non resident personal return.I did it exactly as you indicated. ...
