NYS Tax Department: New guidance and election application for optional pass-through entity tax

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New guidance and election application for the optional pass-through entity tax (PTET)

The New York State Tax Department has issued a technical memorandum and webpage to provide information on the new optional PTET.


TSB-M-21(1)C, (1)I, Pass-Through Entity Tax, summarizes the provisions of the optional PTET under Tax Law Article 24-A.


To view the entire document, visit TSB-M-21(1)C, (1)I, Pass-Through Entity Tax.


Election process

The PTET Annual Election application is now available. If you're an authorized person, you can opt in to PTET on behalf of an eligible entity through the entity's Online Services account.


For more information

To stay up to date with new information, visit Pass-through entity tax (PTET) periodically, or subscribe to our Pass-through entity tax email topic for updates.