Hochul Pushes to Extend SALT Workaround Deadline in Budget Plan

New York Gov. Kathy Hochul (D) wants to extend the deadline for taxpayers to take advantage of the state’s pass-through entity tax as part of her $260 billion budget plan.

Hochul said she wants to give businesses an additional six months to elect to pay the PTET, pushing the deadline back to Sept. 15 instead of March 15 each year.

The governor called for the deadline extension last year but it wasn’t included in the final budget plan. State lawmakers had raised concern over the fiscal hit the proposed new deadline posed to the state.

New York would see less ...