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LVBW
Certified Public Accountants – Buffalo, Rochester, Syracuse – WNY
LVBW
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  • About
    • Peer Review
  • Leadership
  • Clients
    • Privately Held Businesses
    • Canadian Businesses
    • Nonprofit Organizations
    • Individuals
  • Lifecycle
  • Services
    • Assurance & Financial Reporting
    • Tax Strategies & Filings
    • Client Accounting Services
    • Exit & Succession
    • Canadian Businesses
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Overview of New York’s new pass-through entity tax

NewsletterBy J KincaidAugust 30, 2021

For tax years beginning on or after January 1, 2021, eligible partnerships and S corporations may annually elect to pay the “pass-through entity tax” (PTET). This is an optional election. The benefit of doing so is that NYS income taxes normally limited to the state and local tax deduction of $10,000 on Schedule A can,…

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