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  • 1.  NYS PTET FOR QUALIFIED SUBCHAPTER S TRUST

    Silver Most Valuable Member
    Posted 01-25-2023 12:57 PM
    I have a qualified Sub Chapter S trust that is a shareholder in several S corporations and two partnerships. Two questions. Are most or all Sub Chapter S trusts grantor trusts by nature and if so can and should they pass the PTE credit to the trusts sole beneficiary..

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    Gabriel Bentovim
    HOFFMAN & BENTOVIM, CPAs PC
    Commack NY
    631-499-1500
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  • 2.  RE: NYS PTET FOR QUALIFIED SUBCHAPTER S TRUST

    Silver Most Valuable Member
    Posted 01-26-2023 07:19 PM

    If a QSST election was made the S portion is treated as a Grantor Trust.  I am not an expert on PTET.

     

    Very truly yours,

     

    ROBERT S. BARNETT

     

     

    Long Island Office:

    487 Jericho Turnpike (NEW ADDRESS!)

    Syosset, New York 11791

    516-931-8100

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    New York, New York 10018

    212-661-1144

    Fax: 212-643-1330

     

    www.cbmslaw.com

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  • 3.  RE: NYS PTET FOR QUALIFIED SUBCHAPTER S TRUST

    Platinum Most Valuable Member
    Posted 01-26-2023 07:21 PM

    And the PTET  will pass through to the beneficiary as a conduit

     

     

    Abby Alhante,  CPA

     

    Kurcias  & Alhante, LLC  CPAs

    525 Broadhollow Road   Suite 104

    Melville NY  11747

    516.829-5890  Ext  2   Fax 516-829-3976

    Mobile 516-381-9301

    AbbyA@KurciasAlhanteCPAs.com

    ( E mail response preferred )

     

     






  • 4.  RE: NYS PTET FOR QUALIFIED SUBCHAPTER S TRUST

    Silver Most Valuable Member
    Posted 01-27-2023 08:54 AM

    Thank you

     

     

     

     

    IMPORTANT NOTICE: Never trust wiring instructions sent via email or text.   Always  confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct. We will never email or text wire instructions.

     

     

     

    GABE BENTOVIM

    HOFFMAN & BENTOVIM, C.P.A.'S P.C.

    6500 JERICHO TURNPIKE

    SUITE 206

    COMMACK, N.Y. 11725

    (631) 499-1500  TEL

    (631) 499-1638 FAX

     

     






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The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.