Pass-through entity tax (PTET)
The PTET is an optional tax that partnerships or New York S corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021.
NYS Tax Department: Pass-through entity tax (PTET)—due dates and ...
Authorized persons filing on behalf of eligible entities can opt in to the New York State and New York City PTET for tax year 2025 using the online PTET Annual Election application.
What Is the Pass-Through-Entity-Tax and Who Does it Benefit?
Aug 22, 2024 · The pass-through entity tax (PTET) is a way for owners of pass-through entities—partnerships, limited liability companies, S corporations—to gain benefit from the state and …
Recent developments in states’ PTETs - The Tax Adviser
Sep 1, 2024 · Connecticut’s PTET as enacted was mandatory but was amended to be elective in 2023 (beginning with 2024 tax years). A number of states have changed tax rates, changed credit …
Frequently asked questions about the pass-through entity tax (PTET)
Oct 3, 2025 · Credits Calculations Filings and notices Updated Return to Pass-through entity tax (PTET) or New York City pass-through entity tax (NYC PTET).
If a partnership or New York S corporation elects to pay PTET, partners, members, or shareholders of an electing partnership or New York S corporation (“electing entity”) who are subject to tax under …
Pass-through entityPTE elective tax | FTB.ca.gov
Pass-through entityPTE elective taxDo you qualify? PTE tax election When to pay the PTE elective tax How to pay the 1st and 2nd PTE elective tax payments PTE elective tax calculation Tax credit How …
What is PTET: New York’s Pass-Through Entity Tax Explained
Feb 23, 2025 · PTET is a state-imposed tax on pass-through entities. It allows these businesses to pay New York state income taxes at the entity level rather than through individual tax returns.
How Does PTET Change Under The One Big Beautiful Bill Act?
PTET regimes, adopted by 36 states following the 2017 Tax Cuts and Jobs Act (TCJA), allow pass-through entities to pay state taxes at the entity level, which are then deductible on federal returns, …
PTET Survives: Why This Pass-Through Entity Tax Loophole Still …
Jul 15, 2025 · The PTET is a state-level workaround that allows S corporations, partnerships, and other pass-through entities to pay state income tax at the business level rather than at the individual level.