The New York State pass-through entity tax (PTET) and New York City pass-through entity tax (NYC PTET) have many upcoming due dates and deadlines. We’ve put the most important PTET information in one place below to help you meet any PTET responsibilities.
2022 New York City pass-through entity tax (NYC PTET) annual election
If you’re an authorized person filing on behalf of an eligible entity, you can opt in to the NYC PTET for 2022 through March 15, 2023. For additional information, visit New York City pass-through entity tax (NYC PTET): Election.
Note: You cannot opt in to the NYC PTET for an entity that did not opt in to the New York State PTET for 2022, or for an entity that already filed its 2022 PTET annual return.
2022 PTET estimated payments
Fourth quarter New York State estimated PTET payments were due December 15, 2022.
To make additional payments for 2022 prior to filing your entity’s annual return, request an extension of time to file; you can make estimated tax payments for your entity through the online PTET Extension application.
2022 PTET annual return and extension
If your entity opted in to PTET for the 2022 taxable year, it must:
- file its annual PTET return by March 15, 2023, using our online PTET Annual Return application; or
- request an automatic six-month extension of time to file its return by March 15, 2023, using our online PTET Extension application.
We’ve modified the PTET Annual Return application to allow entities to report information for the NYC PTET. For additional details:
- watch our Pass-Through Entity Tax Annual Filing demo; and
- visit Pass-Through Entity Tax (PTET) Annual Return: Shareholder, member, and partner information upload.
Reminder about the PTET extension
The extension is only an extension of time to file the annual return. It is not an extension of time to pay any tax due.
To request an extension of time to file the annual PTET return, your entity—or you on your entity’s behalf—must use the online PTET Extension application. Filing a request for an extension of time to file a different tax form does not allow for an extension of time to file the annual PTET return.
Additionally, requesting an extension of time to file the PTET return does not allow for an extension of time to:
- file any other form, including Form IT-204, Partnership Return, or Form CT-3-S, New York State S Corporation Franchise Tax Return, and their required attachments; or
- report information on PTET credits that your entity is providing to partners, members, or shareholders.
2023 PTET annual election
If you’re an authorized person filing on behalf of an eligible entity, you can now opt in to the New York State PTET and NYC PTET for tax year 2023 using the online PTET Annual Election application.
The deadline to opt in is March 15, 2023.
2023 PTET estimated payments
Quarterly estimated PTET payments for tax year 2023 are due March 15, June 15, September 15, and December 15, 2023. Make payments for your entity—or schedule them in advance—using our online PTET Estimated Payment application.
Foreign partners, members, and shareholders
To file the annual PTET return, an electing entity must report identifying information for each partner, member, or shareholder that is being allocated a PTET credit.
If an individual does not have a taxpayer identification number, they must obtain one by filing a New York State personal income tax return (or extension of time to file an income tax return) by April 18, 2023, so we may issue a temporary identification number. The entity must then use the temporary identification number to report information for this individual on its annual PTET return.
Note: If additional time is needed for the entity to file its PTET return, it must request an extension of time to file by March 15, 2023.
Frequently asked questions
Have a question about the PTET? Check out our Frequently asked questions about the pass-through entity tax (PTET) for answers to common questions.
Keep up with PTET changes
If you haven’t already, subscribe to Pass-through entity tax (PTET) emails. We’ll send you important information about PTET and notifications when we update our PTET webpages.
- 2022 New York City PTET annual election
- 2022 PTET annual return or extension request
- 2023 New York State and New York City annual election
- 2023 first-quarter estimated payment
- 2023 second-quarter estimated payment
- 2022 annual return for those who requested an extension
- 2023 third-quarter estimated payment
- 2023 fourth-quarter estimated payment
Stay on top of due dates; bookmark the New York State Department of Taxation and Finance Tax Calendar. If you need help with how PTET applies to your business, please call our office and set up an appointment.