12/14/2023 0 Comments Ny 2022 tax brackets![]() ![]() The certification will be made on the taxpayer’s Business Online Service account and is due on March 15, 2023. ![]() Beginning in 2022, resident NY State S corporations that certify at the time that the entity made its PTET election that all members were residents of NY State will calculate the NY PTET on all the S corporation’s income.For S corporations with resident and nonresident members, the NY State PTET is calculated based on NY-sourced income. A NY State resident is defined as an individual who is a resident of NY State for at least six months. For partnerships, the credit is calculated by including all eligible resident and nonresident members.Eligible investors for the NY State PTET credit are those members that are individuals, trusts or estates (Article 22 taxpayers).The NY State PTET tax rates are as follows:.The NY State PTET credit is a refundable credit.The election due date is March 15 (the 15th day of the third month of the tax year). In 2023, a taxpayer can revoke an election at any time before the election due date. The election is annual and was irrevocable through the 2022 tax year.An EisnerAmper webcast titled Financial Services Year-End Tax Planning Webinar Series - Part 2 discussed a handful of considerations including: 1) the state pass-through entity tax (PTET) 2) telecommuting 3) changing domicile and 4) sourcing of service revenue for purposes of the New York City Unincorporated Business Tax. ![]() As we welcome in 2023, there are several state and local tax topics that need to be considered. ![]()
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