State Tax Implications of the New Federal Partnership Audit Rules

Alysse McLoughlin and Peter L. Faber wrote this bylined article on state and local tax considerations when partnerships are created or restructured to comply with new federal partnership audit rules. “The states, for the most part, have not yet adopted rules or guidance concerning the implications of the new audit rules,” the authors wrote, but they cautioned that “any decision made at the federal level may have concomitant implications at the state level.”