shomes74
Level 1
‎06-29-2023 04:53 PM

Hi, ITO needs to integrate the option for PTET for NYS, NYC, and other states that have it.

Also, NYC for example has a flat 8.85% tax on the income of the S-Corp but a Schedule C has a lower tax in NYC. This should also be integrated into the S-Corp analysis for NYC businesses.

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Strongsilence-CPA
Level 10
‎07-05-2023 04:07 PM

shomes74

What do you think of ITA?

I haven't had time to use my free trials yet but I'd like to hear your thoughts.

CA has a PTE tax and ITA isn't appealing to me if it doesn't have the ability to analyze a passthrough entity PTE credit.

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shomes74
Level 1
‎07-05-2023 04:28 PM

Open to it and watching how they accommodate us

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IntuitJim
Employee
Employee
‎08-20-2023 04:26 PM

The PTET can be created as a custom strategy and you can estimate the tax savings and update the projection using the strategy. Additionally, the team is evaluating adding a common PTET strategy. Vote here if you believe it is helpful. 

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Mvlcpa
Level 2
‎12-11-2024 11:13 AM

Has there been any update on this since August of last year?  It would be very useful for NY & NYC.

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