Reporting for the New York Pass-Through Entity Tax Election
After completing this course, the learner should be able to:
- Identify how the One Big Beautiful Bill Act (OBBBA) affects pass-through entity tax (PTET) value and recall federal treatment of PTET payments
- Identify PTET eligibility requirements and recognize prohibited entity types
- Recall PTET deadlines and distinguish between extension to file (vs. pay)
- Calculate PTET tax base for partnerships and S corporations; identify included and excluded income items
- Distinguish partnership from S corporation sourcing methodologies for New York-source income
- Identify eligible PTET credit owners, recall that credits are refundable with IT-225 addback, and recognize when credits are lost in tiered structures
- Identify LLC classification requirements for PTET and recognize how special situations affect PTET treatment
Instructor bio
Heather is a CPA in the states of Tennessee and Georgia with 17 years of experience in corporate income tax. She began her career with PwC in Atlanta, where she practiced income tax accounting and compliance for clients in a variety of industries and served as an instructor for national ASC 740 associate series training. Heather has served as the tax director for public companies, including Regal Entertainment Group and, most recently, Scripps Networks Interactive. She holds a bachelor’s degree in business administration and a master’s degree of accountancy from the University of Tennessee.
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