topic PTE tax in State tax filing

PTE tax

Sam Hopi — Tue, 24 Feb 2026 08:13:19 GMT

Hi , I have an S-Corp, and I would like to elect for PTE tax, for year 2024 tax return (not for tax return 2023) should I elect it for along with 2023 tax return when it will be filed before March 15 2024.

And as I read its the instruction, the first payment will be June 15, 2024? am I right?

So, I will take this credit on 2024 tax return which will be filed before March 2025, is it correct?

Thanks for your help

Re: PTE tax

Mike9241 — Sat, 30 Dec 2023 22:48:54 GMT

see the following link PTE is state not federal taxes and different states have different rules

https://www.bdo.com/insights/tax/states-pte-tax-elections-status-and-issues-to-consider#:~:text=Almost%2040%20states%20now%20allow%20pass-through%20entities%20%28PTEs%29,%28SALT%29%20deduction%20limitation%20known%20as%20the%20%E2%80%9CSALT%20cap.%E2%80%9D

then if you need more info regarding your state post back with the name of the state.

Re: PTE tax

Sam Hopi — Sun, 31 Dec 2023 02:49:23 GMT

Hi Mike, thanks but my question is very clear so I did not get my answers. ( I formed my S-Corp in California)