Important March 15 Deadline for 2021 and 2022 NYS Pass-Through Entity Tax

Client Alerts

Berdon State and Local Tax Team

3.2.22 | Client Alert

There are a few actions that taxpayers must complete by March 15, 2022 with respect to both the 2021 and 2022 tax years.

2021 Pass-Through Entity Tax

By March 15, 2022 pass-through entities that have elected to pay the New York State Pass-Through Entity Tax (PTET) must:

• File the 2021 PTET return or request a six-month extension through their New York State Department of Taxation and Finance business online services account (https://www.tax.ny.gov/online/), and
• Pay the remaining 2021 PTET balance due (if any) through the business services online account.

2022 Pass-Through Entity Tax

By March 15, 2022, pass-through entities that wish to elect to pay the 2022 PTET must:

• File their election through their New York State Department of Taxation and Finance business services online account, and
• Make their first 2022 PTET estimated tax payment through their business services online account.
• Note that the remaining three PTET 2022 estimated tax payments are due June 15, September 15, and December 15.

If you have any questions with regards to the PTET or the New York State Department of Taxation and Finance online services account, please reach out to your Berdon Advisor.