NYS Tax: Election Period for Pass-Through Entity Tax (PTET) is Open

New York State Department of Taxation and Finance sent this bulletin on 01/11/2022 09:01 AM EST

If you wish to participate in the optional PTET for 2022, the deadline to opt in is March 15, 2022.

To opt in:
Log in to your S corporation’s or partnership’s Business Online Services account. If the business doesn’t have an account, we recommend creating one by February 15 to avoid missing the election deadline.
Select the ≡ Services menu in the upper left corner of your Account Summary homepage. 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, see Pass-through entity tax (PTET). For email updates, subscribe to our Pass-through entity tax email topic.

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