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.

The Elective Pass-Through Entity Tax (PTET) must be filed and paid electronically. There is no waiver from this electronic filing requirement for the Elective PTET. File and Pay Online Entities can file the PTET using: Approved tax preparation software, or; Our free electronic filing option available through your online business account.

An online estimated tax application for PTET will be available by December 15, 2021. Regardless of whether an electing entity chooses to make optional estimated tax payments for tax year 2021, personal income tax estimated payments must be made by or on

(PTE) tax for Taxable Years 2021-2025. Additional legislation enacted in 2023 expanded PTET eligibility by removing the requirement that a PTE must be 100% owned by natural persons or persons eligible to be shareholders of an S corporation in order to make the PTET election for Taxable Years 2021-2025. The elective PTE tax only applies to the pro

2024年5月8日 · 2021 PTET credit to eligible owners as they existed in 2021, the PTE has the option of distributing the 2021 PTET credit based on its ownership in Taxable Year 2023. As explained in the Retroactive Taxable Year 2021 Pass-

You are entitled to this refundable credit for tax years beginning on or after January 1, 2021, if: you received a pass-through entity tax (PTET) credit from an electing entity that you are a partner, member, or shareholder in; and; you are an individual, trust, or estate subject to tax under Article 22. How much is the credit?

2024年3月20日 · On January 17, the Virginia Department of Taxation (DOT) issued final guidelines for the commonwealth’s pass-through entity tax (PTET) for tax years 2022 through 2025, and on March 4, it issued guidelines for making a retroactive PTET election for …

This deadline was extended in 2021 and 2022, due to the passage of legislation making significant changes to the PTET, but New York was firm in denying any further extensions in 2023. Any pass-through entity (other than a disregarded entity) is eligible to make the election.

2023年12月15日 · Virginia Pass-Through Entity Tax (PTET) Frequently Asked Questions (PDF) Guidelines for the Retroactive Taxable Year 2021 Pass-through Entity Tax (PDF) Response to VSCPA's PTET concerns Jan. 23, 2024 (PDF)

2024年3月5日 · The Virginia Department of Taxation released guidelines explaining how to make the pass-through entity tax (PTET) election for Taxable Year 2021, file that year's return, and claim a retroactive PTET credit.