REMINDER: Annual NYS Pass Through
Entity Tax (PTET) Election Due March 15th
The annual NYS Pass Through Entity Tax (PTET) election for the 2026 tax return no extensions.
An authorized person can opt in to the PTET on behalf of an eligible entity through the entity’s Business Online Services account. If the entity does not have a Business Online Services account, the authorized person will need to create one.
To opt in to the PTET:
Important: The authorized person must electronically sign and attest to having the electing entity’s authorization.
The PTET election may be revoked at any time up until the due date of the first estimated payment, through the entity’s Business Online Services account.
About The NYS PTET
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.
An eligible entity may opt in on or after January 1, but no later than March 15.
he election to opt in to the PTET must be made online on an annual basis and is irrevocable after the due date of the entity’s first PTET estimated payment.
The information presented here should not be construed as legal, tax, accounting, or valuation advice. No one should act on such information without appropriate professional advice and after a thorough examination of the particular situation.