https://ptetmap.us/2026-changes Multi-state Pass-Through Entity Tax election picker. Chronological PTET legislative-change log; primary-source pinned. en-US Sat, 22 Aug 2026 08:41:45 GMT https://ptetmap.us/2026-changes#va-permanent-2026 https://ptetmap.us/2026-changes#va-permanent-2026 Thu, 01 Jan 2026 00:00:00 GMT sunset The Virginia 2026 Appropriation Act removed the prior sunset on the Virginia Pass-Through Entity Tax election, making the regime permanent. The 5.75% rate, refundable owner credit, and existing election deadline remain unchanged. Virginia 2026 Appropriation Act, amending Va. Code §58.1-390.3 https://ptetmap.us/2026-changes#nyc-stack-stable https://ptetmap.us/2026-changes#nyc-stack-stable Thu, 01 Jan 2026 00:00:00 GMT structural The NYC Pass-Through Entity Tax (NYC Admin Code §11-1901 et seq., enacted 2022) continues to operate as a parallel layer on top of the NY State PTET. NYC-resident owners of entities that have elected NY State PTET may separately elect NYC PTET at a 3.76% city-level rate on city-source income. The NYC election is filed alongside the state election via NY State Tax Online Services. NYC Admin Code §11-1901 https://ptetmap.us/2026-changes#ny-graduated-stable https://ptetmap.us/2026-changes#ny-graduated-stable Thu, 01 Jan 2026 00:00:00 GMT rate The New York State PTET graduated rate schedule (6.85% on first $2M, 9.65% on $2M–$5M, 10.30% on $5M–$25M, 10.90% above $25M) carries forward unchanged for 2026 elections. Annual election deadline remains March 15 of the tax year; quarterly estimated payments due March 15, June 15, September 15, and December 15. NY Tax Law §860-A https://ptetmap.us/2026-changes#nj-bait-stable-2026 https://ptetmap.us/2026-changes#nj-bait-stable-2026 Thu, 01 Jan 2026 00:00:00 GMT rate The New Jersey Business Alternative Income Tax (BAIT) graduated rate schedule (5.675% on first $250K, 6.52% on $250K–$1M, 9.12% on $1M–$5M, 10.9% above $5M) continues unchanged into 2026. The March 15 election deadline, quarterly estimate cadence (April 15 / June 15 / September 15 / January 15), and refundable owner credit against NJ Gross Income Tax remain in place. N.J.S.A. 54A:12-3 https://ptetmap.us/2026-changes#obbba-2025-salt https://ptetmap.us/2026-changes#obbba-2025-salt Fri, 04 Jul 2025 00:00:00 GMT structural The One Big Beautiful Bill (signed July 2025) raised the IRC §164(b)(6) individual SALT-deduction cap from $10,000 to approximately $40,000 joint for tax years 2025–2029, with a $500,000 MAGI phaseout that grinds the cap back to $10,000 for the highest earners. The cap reverts to $10,000 in 2030 unless reauthorized. The PTET workaround mechanic under IRS Notice 2020-75 is explicitly preserved. For pass-through owners above the phaseout (essentially anyone with PTET-level state tax), the workaround economics still hold. OBBBA July 2025, amending IRC §164(b)(6) https://ptetmap.us/2026-changes#ca-sb132-2025 https://ptetmap.us/2026-changes#ca-sb132-2025 Tue, 24 Jun 2025 00:00:00 GMT sunset Senate Bill 132 (signed June 2025) extends California's Pass-Through Entity Elective Tax to taxable years beginning on or after January 1, 2026 and before January 1, 2031. The 9.3% rate, June 15 prepayment requirement (greater of 50% of prior-year PTE tax or $1,000), and partial-refundable owner credit mechanics carry forward unchanged. The extension closes the 2026-cliff that would otherwise have ended PTET in CA. California SB 132 (2025), amending R&TC §17052.10 https://ptetmap.us/2026-changes#ms-revocation-2024 https://ptetmap.us/2026-changes#ms-revocation-2024 Sun, 15 Dec 2024 00:00:00 GMT structural Mississippi DOR clarified (Form 84-381 instructions) that entities may revoke a Mississippi PTE election mid-cycle via a properly-filed amended election. Most peer states make the election annual + irrevocable; Mississippi's flexibility is an outlier and useful for owners whose facts change mid-year. MS DOR Form 84-381 (revised 2024)