How to File Form PTET-100: New York Pass-Through Entity Tax

To file Form PTET-100, log in to the electing entity’s Business Online Services account with the New York State Department of Taxation and Finance and submit the return electronically by March 15 following the close of the tax year. Paper filing is not accepted. Before the return can be filed, the entity must have made a timely PTET election for that tax year through the same portal, and any balance due after quarterly estimated payments must be paid electronically by ACH debit when the return is filed.¹

Confirm the Entity Is Eligible and Has Elected In

Only two kinds of businesses file a PTET-100: a partnership (including an LLC treated as a partnership federally) with a New York filing requirement that is not publicly traded, and a New York S corporation subject to tax under Article 9-A, including an LLC that elected S corporation treatment.² Disregarded single-member LLCs, sole proprietorships, trusts, nonprofits, and C corporations cannot file.¹

The return also assumes the entity opted in for the tax year. The election is annual, made online between January 1 and March 15, and becomes irrevocable once that window closes.³ An authorized person, meaning a general partner, managing member, or corporate officer, must have submitted it. If no election was made, there is no PTET-100 to file.

When the Return Is Due

Form PTET-100 is due by March 15 following the close of the tax year. An entity with a fiscal year ending on a date other than December 31 still files by March 15 following the close of the calendar year that contains its fiscal year-end.⁴ If March 15 falls on a weekend or legal holiday, the deadline shifts to the next business day.

The Commissioner may grant an extension of up to six months to file the return.⁴ An extension of time to file does not extend the time to pay: any balance not covered by estimated payments must be paid by March 15 to stop interest from accruing.

Filing Through Business Online Services

The PTET-100 is filed exclusively through the Business Online Services Web File application. If the entity does not already have an account, one must be created at the department’s online services portal before filing.⁵

Once inside Web File, the system walks you through entering the entity’s pass-through entity taxable income, the computed PTET, estimated payments already made during the year, and identifying information for each partner or shareholder who will receive a share of the credit.¹ After submission the portal generates a confirmation number. Save it. That number is your proof of timely filing.

What the Return Reports

The tax is calculated on “pass-through entity taxable income,” meaning the total income, gain, loss, and deductions flowing through to direct partners or shareholders. For partnerships, the full amount flowing to New York resident partners is included; only New York-source income counts for nonresident partners.³ S corporations follow a similar split depending on whether the entity elected resident or standard status for the year.

On the return you also list each direct owner and the PTET amount allocated to that person. Those allocations are what the owners will use to claim their credit, so the names, taxpayer IDs, and dollar amounts need to match what you provide to them on their Schedule K-1 or shareholder statement.

Paying the Balance Due

Any tax not covered by the four quarterly estimated installments is paid with the return. All PTET payments, including the balance due at filing, must be made electronically by ACH debit through the Web File application. The state does not accept checks or other manual payment methods for PTET.¹

The estimated payments credited on the return are the ones made on March 15, June 15, September 15, and December 15 of the tax year, each equal to 25% of the required annual payment.⁶

The Return Cannot Be Amended Without Consent

Once a PTET-100 has been filed, it cannot be amended without the Commissioner’s consent.⁴ Review income allocations, credit amounts, and owner information carefully before submitting. There is no straightforward do-over.

Giving Owners What They Need for the Credit

Filing the entity return is only half the exercise. Each direct owner claims a refundable credit on their New York personal return using Form IT-653, and to complete it they need their allocated share of the PTET as reported to them on Form IT-204-IP (for partnerships) or the S corporation shareholder statement.⁷

Owners must also add the PTET credit amount back to income on their New York return using Form IT-225.⁷ The numbers you certify on PTET-100 need to line up with what each owner will report, so send owners their allocation figures promptly after filing.

If the entity also opted into the New York City PTET for the year, those amounts are reported and credited alongside the state PTET, and owners claim both on the same Form IT-653.⁸

Late Filing and Underpayment

Late filings and underpayments trigger penalties and interest under the personal income tax rules of Article 22. The electing entity, along with certain responsible persons, can be held liable for unpaid PTET.¹

One nuance to know when a quarter came in short: the annualized installment method, which normally lets businesses with uneven income reduce early-quarter estimated payments, cannot be used to reduce or eliminate PTET underpayment penalties.¹ Each installment must be at least 25% of the required annual payment regardless of when income actually arrived during the year.⁶ Any remaining balance not covered by estimated payments must be paid by the March 15 filing deadline to stop additional interest from accruing.

1
New York State Department of Taxation and Finance. Pass-Through Entity Tax (PTET)
2
New York State Senate. New York Tax Law 860 – Definitions
3
New York State Department of Taxation and Finance. Frequently Asked Questions About the Pass-Through Entity Tax (PTET)
4
New York State Senate. New York Tax Law 865 – Filing of Return and Payment of Tax
5
New York State Department of Taxation and Finance. Online Services for Businesses
6
New York State Senate. New York Tax Law 864 – Payment of Estimated Tax
7
New York State Department of Taxation and Finance. Instructions for Form IT-653 Pass-Through Entity Tax Credit
8
New York State Department of Taxation and Finance. New York City Pass-Through Entity Tax (NYC PTET)