Taxes-by-Rocky
Level 7

From NYS DTF's website:

"Only an authorized person may make this election on behalf of an eligible partnership or eligible S corporationTax professionals may not make this election on behalf of their clients.

Authorized person: An individual who is eligible to make the election into the PTET on behalf of an eligible partnership or eligible S corporation. For partnerships, authorized person includes any member, partner, owner, or other individual with authority to bind the entity and sign returns under Tax Law § 653. For New York S corporations, authorized person includes any officer, manager, or shareholder of the New York S corporation who is authorized under the law of the state where the corporation is incorporated or under the S corporation’s organizational documents to make the election, and who represents to having that authorization under penalty of perjury.

An authorized person can opt in to the PTET on behalf of an eligible entity through the entity's Business Online Services account. If the entity does not have a Business Online Services account, the authorized person will need to create one."

Suspect the state and the tax software companies could not do the programing and authorizations fast enough.  Agree, makes it a lot more complicated.

0 Cheers