A missed or underpaid June 15 payment no longer automatically eliminates the 2026 California PTE election. Learn how the 12.5% owner credit reduction is calculated, when the election may still produce federal tax savings, and how to prepare for the 2027 deadline.

The federal SALT deduction limit rises to $40,400 for 2026, but California taxpayers may lose part of the deduction when modified adjusted gross income exceeds $505,000. Learn how income tax, property tax, year end payments, and the PTE elective tax affect the deduction.