The Department of Revenue is processing 2023 income tax returns. For more information, please read the Department's announcement.

 
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What Should Partnerships and S Corporations Do To Prepare?

How to prepare for SALT Parity elections: 

  • Create a Revenue Online account if the partnership or S corporation does not already have access. 
  • Set up third party access in Revenue Online for your third party provider. 
  • Contact partners and shareholders. 
    • To ensure timely processing and accurate delivery of the refund to the partner, please ensure that the mailing address information provided is complete and the most current for the partner. Submit the partner's full address, including any apartment or unit number and the correct zip code. Old, incorrect or incomplete information for the mailing address will delay delivery or cause the partner's refund to be issued to the wrong location.
    • The Declaration for Retroactive SALT Election is being provided to help Partnerships and S Corporations collect the necessary information needed to file the return. Partnerships and S corporations should retain this form in their records. Do not return this document to the Department
  • Collect other needed documentation. 
    • A copy of the original Federal K-1 (Form 1065) for each partner and shareholder, for each tax year included in the election. 
  • Plan ahead.
    • To expedite the refund to partners and shareholders, partnerships and S Corporations are encouraged to select the "RETROACTIVE SALT Election" direct payment when prompted after e-filing using Revenue Online to remit payment electronically. 

Need help?

For additional questions please send a secure message through Revenue Online, Contact us by email, or call the Taxpayer Helpline.

Response times can vary depending on your specific tax situation, the tax type you are inquiring about, time of year/month, and/or current customer service volume. All inquiries are answered in the order in which they are received. Thank you for your patience.