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CA PTE Tax and apportionment
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mgledhill
Level 1
02-27-2024
07:39 PM
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I'm a bit confused as to the outcome of a result and I have to assume I made an entry error somewhere. I have a client that has both AZ and CA income. AZ profit apportioned out to be @ $83k, CA profit apportioned out to be @ $14k. The PTE tax for CA, which we paid $1k in June to opt into is calculating the CA PTE Tax to by @ $9k which is 9.3% on the full $97k company profits.
Anyone have any idea of how to correct for this? I tried to override "net income for state purposes" on screen 48.011, but that didn't change anything.
