Breaking News-NYC PTET Estimated Taxes

New York State has announced that the estimated tax payment system for the New York City pass-through entity tax (PTET) is now open and available for entities to make optional estimated tax payments for the 2022 tax year.

Estimated tax payments are not required for the NYC PTET for the 2022 tax year, but entities may wish to make voluntary estimated payments on or before December 31, 2022 in order to obtain a federal tax deduction for the 2022 tax year.

Such payments are made using an entity’s online services account at http://www.tax.ny.gov/online/

It is expected that such optional estimated tax payments made through the NYC estimated tax application during the period up to and including December 31, 2022 will not be permitted to be scheduled in advance. Instead, taxpayers are expected to need to enter a payment date that is the same day on which they log into their online services account to initiate such an optional estimated tax payment. 

Our tax news has numerous other posts related to the pass-through entity tax. Search our tax news archive for PTET to see these earlier posts.

We will discuss this and other changes to the PTET for the 2022 and 2023 tax years in our upcoming seminars in January. If you are not already registered, register here.