New York PTET 2026: deadline, rate, who can elect
New York (NY), tax year 2026, from the same rules the connector returns. 2025 is below for comparison. Last verified October 24, 2026.
Informational. Not tax advice.
Elective PTET
Yes
Article 24-A still applies for 2026. New York City's separate pass-through entity tax is not described.
Who can elect
A partnership, including an LLC taxed as a partnership, or a New York S corporation.
A resident New York S corporation election requires a certification that all shareholders are New York residents for Article 22.
How the election is made
An authorized person elects annually online in Business Online Services and signs electronically. The election is irrevocable after the first estimated-payment due date.
The 2026 annual election and the first estimate share a due date.
Election deadline
March 16, 2026. The statutory date is March 15, and March 15, 2026, is a Sunday, so the Department calendar moves the annual election and the first estimate to the next business day.
The return is also due March 15 or the next business day. Fiscal-year entities still file on the calendar-year PTET calendar. Income is the fiscal year ending in that calendar year. A six-month extension is available online.
Rate
Up to $2,000,000: 6.85%. Over $2,000,000 through $5,000,000: $137,000 plus 9.65% of the excess over $2,000,000. Over $5,000,000 through $25,000,000: $426,500 plus 10.30% of the excess over $5,000,000. Over $25,000,000: $2,486,500 plus 10.90% of the excess over $25,000,000.
The calculation page, read on October 24, 2026, does not label this table with a tax year. It is the table published that day and is used for 2026 for that reason. Partnership and S corporation bases differ. See the calculation page rather than a restatement here.
Owner relief
Credit, not an exclusion, for a direct partner, member, or shareholder subject to Article 22, equal to that owner's direct share of PTET.
Claim it on the personal income tax return under Tax Law section 606(kkk). Excess is an overpayment credited or refunded without interest. Corporate partners and partnership partners are not eligible and cannot pass the credit through. A trust other than a disregarded trust may claim it on the fiduciary return and may not distribute it.
Estimates
March 15, June 15, September 15, and December 15, or the next business day, by online ACH debit. For 2026 the first date is March 16.
Checks are not accepted. The 2026 calendar is the source for the March 16 move.
Sunset or repeal
No sunset date is stated on the Department's PTET page.
Article 24-A has applied since tax years beginning on or after January 1, 2021. This records the page reviewed on October 24, 2026.
Still open in the source review
- The line-by-line IRC 168(k) add-back and subtraction on Form IT-398 were not read from the form instructions.
- IRC 179 treatment was not verified.
- The New York IRC conformity date was not verified.
Sources for this year
2025
Last verified October 24, 2026.
Elective PTET
Yes
New York's pass-through entity tax, Tax Law Article 24-A, applies to tax years beginning on or after January 1, 2021. New York City has a separate pass-through entity tax. This entry does not describe the city tax.
Who can elect
A partnership, including an LLC taxed as a partnership, or a New York S corporation.
An S corporation that files as a resident S corporation must certify that all shareholders are New York residents for Article 22.
How the election is made
An authorized person elects annually online in the entity's Business Online Services account and signs electronically. The election is irrevocable after the due date of the first estimated payment.
The Department's PTET web file is the election method. The election is annual.
Election deadline
On or after January 1 and no later than March 15 of the PTET year. If that day is a Saturday, Sunday, or legal holiday, the deadline is the next business day. March 15, 2025, was a Saturday, so the deadline was March 17, 2025.
The March 17 date is the Department's published weekend rule applied to the calendar. It is not a separate 2025 statute. The return itself is also due March 15, or the next business day, even when the entity has a fiscal year. Fiscal-year income is the fiscal year ending in the PTET calendar year. A six-month extension is filed online.
Rate
Up to $2,000,000: 6.85%. Over $2,000,000 through $5,000,000: $137,000 plus 9.65% of the excess over $2,000,000. Over $5,000,000 through $25,000,000: $426,500 plus 10.30% of the excess over $5,000,000. Over $25,000,000: $2,486,500 plus 10.90% of the excess over $25,000,000.
This is the table on the Department's calculation page as read on October 24, 2026. That page does not label the table with a tax year. Partnership and New York S corporation taxable-income computations differ. Use the calculation page for the base. This entry does not restate it.
Owner relief
Credit, not an exclusion, for a direct partner, member, or shareholder subject to Article 22, equal to that owner's direct share of the PTET reported on the annual return.
Claim the credit on the personal income tax return. Tax Law section 606(kkk) is the credit the Department cites. Excess credit is an overpayment credited or refunded without interest. A corporate partner, and a partner that is itself a partnership, is not eligible and cannot pass the credit through. A trust other than a disregarded trust may claim the credit on the fiduciary return and may not distribute it to beneficiaries.
Estimates
March 15, June 15, September 15, and December 15, or the next business day. Online Web File, ACH debit only.
The Department does not accept checks for these payments. The election becomes irrevocable after the first estimate is due.
Sunset or repeal
No sunset date is stated on the Department's PTET page. Article 24-A has applied since tax years beginning on or after January 1, 2021.
This is a statement about the Department page reviewed on October 24, 2026.
Still open in the source review
- The line-by-line IRC 168(k) add-back and subtraction on Form IT-398 were not read from the form instructions.
- IRC 179 treatment was not verified.
- The New York IRC conformity date was not verified.
Sources for this year
Bonus-depreciation conformity is on its own page.