Thank you. The PTE taxes are for the state I reside in not out of state. I thought the point of electing to have the partnership pay the state income tax due was to circumvent the $10K SALT caps. In states that have adopted a PTE tax, the partners and shareholders can elect to have the PTE pay the state income tax due on the PTE’s business income. This is equal to what partners and shareholders would otherwise pay on their personal tax returns. The PTE then claims a federal business expense deduction for the state income tax payments. The PTE can pass that business expense deduction to its partners which doesn't have the same $10K limitation. Of course depending on the state, the states that have enacted PTE tax election may handle them slightly differently.
