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EPISODE 21: Is New York State’s New Pass-Through Entity Tax Right for You?

Are you familiar with New York State’s new Pass-Through Entity Tax (PTET)? While this optional tax can provide significant benefits for partnerships and New York S corporations, the election must be made by October 15, 2021, to be effective for the entire 2021 tax year.

Under this new rule, Partnerships and New York S corporations may annually elect to pay this optional tax on certain income for tax years beginning on or after January 1, 2021. If a partnership or New York S corporation elects to pay PTET, partners, members, or shareholders of an electing partnership or New York S corporation (“electing entity”) who are subject to tax under Article 22 may be eligible for a PTET credit on their New York State income tax returns.

Join Janover team members Peter DiPaola, Richard Feldman and Barry Sunshine for a live webinar Thursday, September 30 at 1 p.m. for an overview of the new PTET, including recently released updated guidance from the New York Department of Taxation and Finance.

During the webinar, you’ll learn:

• Who is eligible
• Advantages and benefits of electing to participate
• Effects on cash flow and other considerations
• How to elect to participate

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