If you have not yet made the New York State (NYS) Pass-Through Entity Tax (PTET) election for 2022, you may opt-in through September 15, 2022, using NYS’ Pass-Through Entity Tax Annual Election application. An estimated payment is required upon opt-in.
NYS advises taxpayers to make their election well ahead of the deadline, as some accounts may need to be updated in order to be able to opt in.
For more information, please review our previous blog on NYS PTET, as well as NYS’ PTET webpage here.
If you have any questions, please reach out to your personal Sciarabba Walker contact or email us at info@swcllp.com.