Income/Franchise:
New York City PTET Filers for TY2022 are Reminded of September 15, 2022 Filing Deadline
Pass-through entity tax (PTET), N.Y. Dept. of Tax. & Fin. (9/1/22). The New York Department of Taxation and Finance reminds that those qualifying entities electing to opt in to the New York City pass-through entity tax (NYC PTET) for tax year 2022 [see SB 9454 (2022) for new law providing that the NYC PTET is in effect beginning with tax year 2022, rather than with tax year 2023, and State Tax Matters, Issue 2022-35, for more details on this new law] must first have opted in to the New York State pass-through entity tax (NYS PTET) by the September 15, 2022 election deadline to be eligible – and that additional guidance on the NYC PTET election process “will be available soon.” Please contact us with any questions.
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