PatriciaV, thank you. I didn't know if anyone was going to understand what I was asking. I remembered you as an expert in LLC tax matters, and I was hoping you would see my question when I submitted it yesterday. I appreciate your response. So, if I am understanding your answer correctly, it means that the PTET is only relevant for the state tax owed on the profit from the business, and NOT state tax owed on income from guaranteed payments. That does make sense to me.
