Sign up for our tax news emails for the latest tax changes:

    We will not share your email with anyone else

    NY Pass Through Entity Tax Estimated Taxes

    New York State has indicated that optional estimated tax payments made through the new estimated tax application for the New York Pass-Through Entity Tax (PTET) during the period of December 15, 2021 and December 31, 2021 cannot be scheduled in advance.  Instead, taxpayers must enter a payment date that is the same day on which they log into their online services account to initiate the optional estimated tax payment. 

    New York State has also indicated that, for 2022 and later tax years, taxpayers will be able to schedule one or more estimated tax payment in advance.

    Our earlier posts on December 14, 2021 and December 6, 2021 discuss optional estimated tax payments for the New York pass-through entity tax for the 2021 tax year. 

    Our other posts that discuss the New York pass-through entity tax include: November 11, 2021, September 30, 2021, September 9, 2021, August 26, 2021 and June 3, 2021.

    If you have not already taken our seminar, our upcoming seminars in January provide in-depth information, strategies and considerations related to the New York pass-through entity tax and illustrate the new Form IT-653 Pass-Through Entity Tax Credit.  If you are not already registered, register here.

    The information provided herein is provided with the understanding that the author and publisher are not engaged in rendering legal, accounting or other professional service. As such, M + O = CPE, Inc. and the author disclaim any responsibility or liability for the information supplied herein or the application of said information.