Skip to main content
Department of Taxation and Finance

Pass-through entity tax (PTET)

The 2021 PTET election deadline has passed. Entities that opted in may make optional estimated PTET payments online for 2021 beginning on December 15, 2021. The 2022 PTET election period will be January 1, 2022, through March 15, 2022.

The PTET is an optional tax that partnerships or New York S corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021.

If an eligible partnership or eligible New York S corporation (electing entity) elects to pay the PTET, its partners, members, or shareholders subject to tax under Article 22 (personal income tax) may be eligible for a PTET credit on their New York State income tax returns.

The tax is imposed under Tax Law Article 24-A, which was enacted in 2021.

Information

Resources

Subscribe to receive emails with tax tips, news, and the latest guidance for the PTET.

For more guidance:

Updated: