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PTET and addback on NYC 4S

  • 1.  PTET and addback on NYC 4S

    Posted 02-23-2022 02:22 PM
    What is the consensus on adding back the PTET on NYC S Corp return/NYC 4S?  -Section B -Line 3a , says to addback the amount deducted for business taxes paid or accrued to any state... if they are measured by profits or income...
    In seminar the other day, there was no definitive response.  Software  (I use Lacerte) does not add back other than the NYS Franchise tax.

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    Lori Di Marco
    LORI DI MARCO, CPA, PLLC
    Patchogue NY
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