New Jersey has enacted legislation that gives business owners of pass-through entities a way to bypass the $10,000 limit on state and local tax deductions. The $10,000 state and local tax limitation was implemented under federal law in the Tax Cuts and Jobs Act.[1] The law has been controversial because of its disproportionate effect on high-tax jurisdictions like New York and New Jersey. The Pass-Through Business Alternative Income Tax Act allows pass-through entities in New…