Sometimes, a “protective” S corporation election on IRS Form 2553 is also filed for Newco, but based on Rev. Rul. 2008-18, ... Under the California PTET regime, ...

Update 6/11/2025: Due to the California wildfires earlier in the year, for some California taxpayers the new deadline to make your first 2025 PTET payment is now Oct. 15 2025.

The pass-through entity tax (PTET) is a valuable tax credit many high-income California business owners need to get. Could you use this tax planning strategy to pay fewer taxes in 2023?