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Thursday, December 16, 2021 Live Webcast

Pass-Through Entity Taxes: Updates on NJ BAIT and NY PTET (E2112554)

12:00 PM - 2:30 PM EST


3.0 CPE Credits in TX


Learn what you need to know as we head into the second year of the New Jersey Business Alternative Income Tax (BAIT) and the first year of the New York Pass-Through Entity Tax (PTET).


CPAs in public practice who advise flow-through entity clients as well as CPAs in industry who work for or manage partnerships, LLCs or S corporations


Attending this session will arm all participants with the most current information and guidance on New Jersey’s BAIT and New York's PTET. Hear from a panel of CPAs and New Jersey Division of Taxation representatives as they address the outstanding questions and issues still remaining.


Proactive planning to minimize clients’ tax burden is critical. This webinar will cover the following topics:

New Jersey BAIT:
  • Update on implementation issues not resolved during last tax season
  • Determining whether to elect into the BAIT
  • Taxation planning strategies for the owner's share of distributive proceeds
  • Refundable tax credits
  • The impact on single-member LLCs and sole proprietorships
  • Safe harbor provisions and tax rates on pass-through entity income levels
  • Estimated tax considerations
  • Circular calculations
  • Electing, filing and paying the BAIT
  • Multistate considerations
  • Federal tax considerations
  • Applying for Refunds
  • Real-life examples
New York PTET
  • Pros and cons of electing into the PTET
  • Qualifying entities
  • How to make the election
  • Computing the tax
  • Electing, filing and paying the PTET








Janine Burgess

Janine Burgess

Kathleen Haller

Kathleen M Haller, CPA

Karen Henderson

Karen L. Henderson, CPA


Karen L. Henderson, CPA a Senior Tax Manager in the SobelCo Tax Practice, gained a depth of experience while working with clients in the public accounting sector, as well as in private industry, where her familiarity with strategic cash flow plans and other financial analysis added value for the companies she served. This combination of public-private perspectives enables her to provide critical insights for both the firm’s corporate clients and the individual taxpayers who depend on SobelCo to assist them with strategic tax planning and compliance.

While serving in decision-making roles in accounting and tax firms across New Jersey, Karen developed a unique technical expertise for working with multi-state and start-up income tax returns and large, consolidated, corporate income tax returns as well as supervising and reviewing federal and state income tax returns and managing unclaimed property projects and tax exempt determinations and issues.

Over the years Karen has established a strong reputation in the community for delivering excellent client service. It is this key attribute that enabled Karen to assume a leadership role at the firm where she is having a positive impact on the professional staff and on the clients. A frequent speaker in the state, Karen has been asked to draw on her extensive experience to address critical tax topics for business leaders in manufacturing, healthcare, real estate, nonprofits and foundations.

Toni Mazzacca

Toni Mazzacca, CPA


Mazars USA LLP

Toni has over 20 years of experience delivering insightful local, federal and global tax services to clients in the financial services, capital markets, banking, insurance, real estate, investment management, and private equity industries. She has a substantial track record of helping clients improve their tax positioning at the local, national and international levels, including achieving compliance with ongoing changes in tax regulations worldwide.

Prior to joining Mazars, she was a Director of International Tax at a Big 4 firm and a Senior Manager in their Private Equity/Asset Management group.

Toni holds a BBA in Accounting from Pace University and an MBA in Finance from Fordham University.

Alan Sobel

Alan D. Sobel, CPA, CGMA

Managing Member


Alan is the managing partner of SobelCo, where he is responsible for facilitating the strategic direction and the day-to-day management of the firm. He provides expertise on financial reporting, tax planning for businesses and high net worth individuals and strategic business planning. He has considerable experience with mergers and acquisitions and delivers added value working with clients on sourcing deals, negotiating and structuring transactions, financial and business due diligence and transaction financing. Alan is the 2020/21 president of the NJCPA. He developed the concept for the Pass-Through Business Alternative Income Tax Act and played the lead role in writing the legislation and making it fit within New Jersey’s tax structure. He is also a member of the American Institute of CPAs (AICPA) and the New York State Society of CPAs (NYSSCPA). He is the former chairman of the NJCPA Audit Committee and was a former vice president and trustee of the NJCPA and a past president of its Essex Chapter and has served on various committees. Alan was a former adjunct professor of taxation and frequently lectures.


$75.00 - Member

$95.00 - Nonmember

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Note: Online pre-registration will close on December 16 at 12:00 PM.


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