Joshua B. Beisker Featured in Rochester Business Journal Article on SALT Tax Changes

Underberg & Kessler Partner Joshua B. Beisker shared his perspectives on notable state and local tax (SALT) developments under the One Big Beautiful Bill in a recent Rochester Business Journal article titled “Businesses face new challenges under SALT tax changes.”

“Under the newly enacted One Big Beautiful Bill, the SALT deduction cap has temporarily been raised from $10,000 to $40,000 for households earning up to $500,000 (phasing out above that), offering short‑term relief for many in high‑tax states but reverting to $10,000 starting in 2030 amid ongoing debates over fairness and fiscal costs,” said Joshua, who is Chair of the Estates & Trusts and Tax Law practice groups and Co-Chair of the Corporate & Business practice group.

He further explains that the most consequential recent SALT change is the temporary increase of the deduction cap to $40,000 (through 2029), which substantially benefits high‑earners in high‑tax states while creating sharp phase‑out thresholds that can raise marginal tax rates significantly and prompting complex planning tactics like multi‑trust strategies. “Businesses with multi-state operations should prioritize monitoring federal restrictions on SALT workaround strategies for pass-throughs, new deductions at the entity level, shifts to single-factor apportionment in key states, emerging service-sector surtaxes, and evolving rules around digital and transactional taxation, all of which materially impact tax liability, compliance burden, and location strategy.” To view the full article, reprinted with permission from Rochester Business Journal, click here

Joshua advises clients on complex estate planning and estate administration matters, including estate and income tax planning, the preparation of wills and trusts, durable powers of attorney, health care proxies, and fiduciary administration. He also represents corporations, LLCs, partnerships, and individuals in connection with mergers and acquisitions, corporate governance, business planning and financing, as well as advising on day-to-day operations and on achieving tax efficiencies.