Common questions and answers regarding New York State and New York City pass-through entity tax with an 1120S return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax.
- Article Type:
- Documentation
- Last Modified:
- 12/06/2023
Objectives
Document common questions and answers regarding NY and NYC passthrough entity tax with an S Corporation return.
Environment
- CCH® ProSystem fx® Tax
- CCH Axcess™ Tax
- S Corporation – 1120S
- New York State - NYS
- New York City - NYC
- Worksheet View – WSV
- Interview Forms – IVF
Details
Question | Answer |
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-Form Name |
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-State Links | |
Site with all instructions and FAQs | |
Export is only available in worksheet view |
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Election for PTE | |
-Is an Election Required? |
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-Made when? |
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-Good for? |
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-How do we make this election? | |
-Separate Form needed? |
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-Option to Opt-Out? |
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Generation of State PTE Return | |
-How do we generate the form above? |
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| |
-Is this a separate filing from the main form, part of the main form, or filed on it's own? |
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Estimates | |
-Are there estimates for this form? |
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-How do we generate them? |
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-Can you apply an overpayment from the current year form? |
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Interest/Penalties | |
-Do interest/penalties apply? |
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-Is there an underpayment penalty? |
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Additional PTE Information Common State > State PTE Generation worksheet >Grid 23 (Interview PTE-ST1, boxes 300-364) | |
-Does this section apply to this state? |
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- If yes, what information is required here to complete return? |
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Additional Input Available | |
- Does new input options under State and City Tax Refund flow to the state? |
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- Does new input options under Taxes and Licenses flow to the state? |
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- Does new input options under Rent/Royalty flow to the state? |
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- Does the new input options under Farm flow to the state? |
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Additional Information
N/A
Solution Id | 000259746/000259746 |
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Direct Link |