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

New York State Department of Taxation and Finance sent this bulletin at 08/25/2021 01:03 PM EDT

Having trouble viewing this email? View it as a webpage.

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.

The COVID-19 vaccine is here! Learn more or check your eligibility.

Are you registered to vote? Register to vote online today.

Moved recently? Update your information with the NYS Board of Elections.

Not sure if you're registered to vote? Search your voter registration status.

Become an organ donor—enroll today!

This communication may contain confidential and/or legally privileged information. It is intended only for the individuals named as recipients. If you are not an intended recipient you are not authorized to disseminate, distribute or copy this communication. If you’ve received this communication by mistake, please notify the sender immediately and delete or destroy it, as appropriate.