NYS Tax Department: The election period for the pass-through entity tax (PTET) is closing soon

New York State Department of Taxation and Finance sent this bulletin at 03/14/2025 12:23 PM EDT

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To participate in the optional pass-through entity tax (PTET), you must opt in each year. If you wish to participate in the PTET for 2025, you must opt in by March 17, 2025.

Do not wait until the deadline to opt in. You may need assistance from our representatives to update your account before you can opt in. Make your election early to ensure you have enough time to complete the process before the deadline.

To opt in:

  1. Log in to (or create) your S corporation's or partnership’s Business Online Services account.
  2. Select the ≡ Services menu in the upper-left corner of your Account Summary homepage.
  3. Choose PTET web file from the Corporation tax or Partnership tax expanded menu, then select Pass-through entity tax (PTET) annual election.

Reminder: Tax professionals may not opt in on behalf of their clients.

For more information on this optional tax, visit Pass-through entity tax (PTET). 

For email updates, subscribe to our Pass-through entity tax email topic.

For assistance, contact our call center. Our representatives are available Monday through Friday, 8:30 a.m. to 4:30 p.m. Eastern Standard Time.