New Jersey Form Help
The following information has been provided to assist in the preparation of New Jersey returns.
Forms CBT-100 and CBT-100S form years do not coincide with the IRS form year which is from January 1 to December 31. Instead, they encompass tax periods that end between July 31 of the IRS form year and June 30 of the following year. CrossLink will therefore support two years of the CBT-100 and CBT-100S forms for each IRS form year. The following tax year version of the CBT forms will be released by the end of each year.
New Jersey Form 1065 is required to be filed electronically by partnerships that utilize a paid preparer or have 10 or more partners. The New Jersey Form 1065 is electronically filed directly with the state, not through the IRS modernized e-filing system.
All corporations existing under the laws of the State of New Jersey, as well as non-New Jersey corporations authorized to do business in New Jersey, derive income from New Jersey, employ or own property in the New Jersey, or maintain an office in New Jersey are required to file Form CBT-100. Inactive corporations that have not dissolved or withdrawn their authority to do business in New Jersey are also required to file Form CBT-100. S Corporations that have not elected to be a New Jersey S Corporation must file Form CBT-100; data will flow from the federal 1120S to the CBT-100 when it is loaded in the return.
Note that supporting schedules may appear as separate forms in CrossLink. These schedules will not print separately, but instead print as the applicable page of the CBT-100. These schedules may display a “Form Imported or Not Supported” error when attempting to print “Current Form Only”, but this is the expected behavior. If the printing of worksheets for these supporting schedules is desired, selecting to print “Current Form Only” when the schedule is open in CrossLink will allow for this.
Payments of estimated tax, amounts paid with an extension, and prior year overpayment credited to the state of New Jersey will flow from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. Payments made by partnerships on behalf of the corporation will flow from Schedule P-1.
Schedule A data will flow from the federal return. State and municipal bond interest will flow from the tax exempt interest line of the federal return. State income tax paid will flow from the Income Statement. Other deductions and additions include the Section 199 adjustment from Schedule A-5. Other adjustments will flow from the applicable completed schedules.
This schedule will be completed based on the data on federal Form 1125-A.
To claim any of the credits listed, the applicable credit form must be completed and attached as a PDF file to the electronic return, or printed and mailed along with a paper-filed return. See the New Jersey website, www.state.nj.us/treasury/taxation, for copies of these forms.
The correct version of this schedule will complete from the other schedules in the return based on the tax year beginning date provided on the Client Data screen.
This schedule will complete if the Domestic Production Activities Deduction was claimed on the federal return. Complete Form 501, New Jersey Corporation Business Tax Domestic Production Activities Deduction, to determine the adjustment for New Jersey purposes.
This schedule is required if the greater of the CBT tax liability and the Alternative Minimum Assessment from Schedule AM is less than $2,000. The lines of this schedule will be completed based on data from the Multistate Allocation and Apportionment Information worksheet in the General section of the return if used, or from the Income Statement.
This schedule is only required for corporations that complete Schedule N, New Jersey Nexus-Immune Activity Declaration. The lines of this schedule will be completed based on data from the Multistate Allocation and Apportionment Information worksheet in the General section of the return if used, or from the Income Statement. For the amount of tax to calculate, either the Gross Receipts method or the Gross Profits methods must be chosen by checking the appropriate box.
This schedule is required for all filers. The lines of this schedule will be completed based on data from the Financials – Balance Sheet in the General section of the return. As the New Jersey Balance Sheet has categories that differ from the federal balance sheet, adjustments may be required. The prompts that appear at the bottom of the screen will provide guidance on the adjustments made to the data from the Financials – Balance Sheet based on the data entered for New Jersey categories.
This schedule will be completed for all returns based on data on the federal return and on the Financials – Income Statement.
This schedule will be completed for all returns based on data on the federal return, Financials – Balance Sheet, and on the Financials – Income Statement.
This schedule must be completed for all filers. Answer the questions and provided additional information as necessary.
This schedule will be completed based on the data on federal Form 1125-E. The additional information required by New Jersey must be manually entered.
If interest, intangible expenses, and intangible costs were paid, accrued, or incurred to a related member and deducted from entire net income, complete the required information in Part I and II.
Payments of estimated tax and prior year overpayment credited to the state of New Jersey will flow to the New Jersey Taxes line of Corporation Franchise Business Taxes column from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. All other tax information must be manually entered.
Corporations that did not conduct any business, did not have any income, receipts or expenses, did not own any assets, did not make any distributions, and did not have any change in ownership during the entire period covered by the tax return may complete this schedule and complete pages 1 through 5 of the return in lieu of completing the entire return.
The appropriate version of this schedule based on the tax year beginning date will appear in the return and calculate from the data provided in the Multistate Allocation and Apportionment Information worksheet in the General section of the return. If the Multistate Allocation and Apportionment Information worksheet is not used, the allocation factor will be assumed to be 1.00000 throughout the return.
Complete this schedule to elect to report as a Regulated Investment Company or a Real Estate Investment Trust.
Provide the required information for each subsidiary in which the corporation is invested.
Provide the required information for each partnership, limited liability company, or other entity treated as a partnership for federal tax purposes in which the corporation is invested.
This schedule must be completed if there are more than two licensed professionals in the professional corporation. Enter the number of licensed professionals on the appropriate line for their residency status.
This schedule will calculate the exclusion of dividends included in Schedule A. Manually enter the amount of dividend income from investments where ownership is less than 50% of voting stock and less than 50% of all other classes of stock.
If the corporation owns any qualified subchapter S subsidiaries, check yes and enter the required information for each qualified subchapter S subsidiary.
This schedule will be completed based on data from the Asset Worksheets and Form 4562. Part III will complete for gas, electric, and gas and electric public utilities based on the NAICS code entered on the Client Data screen. New Jersey does not allow the deduction for bonus depreciation or section 179 deduction in excess of $25,000.
All corporations that have elected and qualified under section 1361 of the Internal Revenue Code and have qualified and been accepted as a New Jersey S Corporation are required to file Form CBT-100S. Inactive corporations that have not dissolved or withdrawn their authority to do business in New Jersey are also required to file Form CBT-100. S Corporations that have not elected to be a New Jersey S Corporation must file Form CBT-100.
Note that supporting schedules may appear as separate forms in CrossLink. These schedules will not print separately, but instead print as the applicable page of the CBT-100S. These schedules may display a “Form Imported or Not Supported” error when attempting to print “Current Form Only”, but this is the expected behavior. If the printing of worksheets for these supporting schedules is desired, selecting to print “Current Form Only” when the schedule is open in CrossLink will allow for this.
Payments of estimated tax, amounts paid with an extension, and prior year overpayment credited to the state of New Jersey will flow from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. Payments made by partnerships on behalf of the corporation will flow from Schedule P-1.
Schedule A data will flow from the federal return. State and municipal bond interest and state income tax paid will flow from the Financials – Income Statement. Other deductions and additions include nonoperational income from Schedule O. Other adjustments will flow from the applicable completed schedules. Entire net income subject to federal corporate income taxation will flow from the federal return.
This schedule will be completed based on the data on federal Form 1125-A.
To claim any of the credits listed, the applicable credit form must be completed and attached as a PDF file to the electronic return, or printed and mailed along with a paper-filed return. See the New Jersey website, www.state.nj.us/treasury/taxation, for copies of these forms.
The correct version of this schedule will complete from the other schedules in the return based on the tax year beginning date provided on the Client Data screen.
This schedule is required if the greater of the CBT tax liability and the Alternative Minimum Assessment from Schedule AM is less than $2,000. The lines of this schedule will be completed based on data from the Multistate Allocation and Apportionment Information worksheet in the General section of the return if used, or from the Income Statement.
This schedule is required for all filers. The lines of this schedule will be completed based on data from the Financials – Balance Sheet in the General section of the return. As the New Jersey Balance Sheet has categories that differ from the federal balance sheet, adjustments may be required. The prompts that appear at the bottom of the screen will provide guidance on the adjustments made to the data from the Financials – Balance Sheet based on the data entered for New Jersey categories.
This schedule will be completed for all returns based on data on the federal return and on the Financials – Income Statement.
This schedule must be completed for all filers. Answer the questions and provided additional information as necessary.
This schedule will be completed based on the data on federal Form 1125-E. The additional information required by New Jersey must be manually entered.
If interest, intangible expenses, and intangible costs were paid, accrued, or incurred to a related member and deducted from entire net income, complete the required information in Part I and II.
Payments of estimated tax and prior year overpayment credited to the state of New Jersey will flow to the New Jersey Taxes line of Corporation Franchise Business Taxes column from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. All other tax information must be manually entered.
Corporations that did not conduct any business, did not have any income, receipts or expenses, did not own any assets, did not make any distributions, and did not have any change in ownership during the entire period covered by the tax return may complete this schedule and complete pages 1 through 5 of the return in lieu of completing the entire return.
The appropriate version of this schedule based on the tax year beginning date will appear in the return and calculate from the data provided in the Multistate Allocation and Apportionment Information worksheet in the General section of the return. If the Multistate Allocation and Apportionment Information worksheet is not used, the allocation factor will be assumed to be 1.00000 throughout the return.
For corporations that have not liquidated in the current year, this schedule will complete based on federal data and data from the listed forms and schedules. Part III: Allocation of S Corporation Income (Loss) will only be completed when Schedule O is used. Part IV-A: Analysis of New Jersey Accumulated Adjustments Account is a summary of the information reported on the Schedule NJ-K-1 for each shareholder. New Jersey Earnings and Profit amounts must be manually entered in Part IV-B. Shareholder Pro Rata Share information will be completed based on information provided on the Schedules NJ-K-1.
Corporations that have liquidated in the current year should check the related box at the top of Form CBT-100S to load this schedule. This schedule will complete based on federal data and data from the listed forms and schedules. The column for income and gain/loss due to disposition in liquidation must be completed manually. Part III: Allocation of S Corporation Income (Loss) will only be completed when Schedule O is used; nonoperational income or loss due to liquidation and the portion of corporation business tax due to liquidation must be completed manually. Part IV-A: Analysis of New Jersey Accumulated Adjustments Account is a summary of the information reported on the Schedule NJ-K-1 for each shareholder. New Jersey Earnings and Profit amounts must be manually entered in Part IV-B. Shareholder Pro Rata Share information will be completed based on information provided on the Schedules NJ-K-1.
Provide the required information for each subsidiary in which the corporation is invested.
Provide the required information for each partnership, limited liability company, or other entity treated as a partnership for federal tax purposes in which the corporation is invested.
This schedule must be completed if there are more than two licensed professionals in the professional corporation. Enter the number of licensed professionals on the appropriate line for their residency status.
This schedule will calculate the exclusion of dividends included in Schedule A. Manually enter the amount of dividend income from investments where ownership is less than 50% of voting stock and less than 50% of all other classes of stock.
If the corporation is a qualified subchapter S subsidiary, check Yes and enter the parent corporation information. If the corporation owns any qualified subchapter S subsidiaries, check yes and enter the required information for each qualified subchapter S subsidiary.
This schedule will be completed based on data from the Asset Worksheets and Form 4562. Part III will complete for gas, electric, and gas and electric public utilities based on the NAICS code entered on the Client Data screen. New Jersey does not allow the deduction for bonus depreciation or section 179 deduction in excess of $25,000.
Schedule NJ-K-1 shows information for each shareholder. Answer the questions and provide the payments made on behalf of each shareholder, the beginning balance of each shareholder’s New Jersey accumulated adjustments account, the interest paid to each shareholder, indebtedness between the shareholder and the corporation, and the shareholder’s HEZ deduction. Other information will be calculated based on the return data. A set of NJ 1040-SC vouchers will be produced for each nonconsenting shareholder.
A partnership, limited liability company, syndicate, group, pool, joint venture or unincorporated organization required to file federal Form 1065 that has income or loss derived from sources in the state of New Jersey or a New Jersey resident partner must file Form NJ-1065. This return is due on or before the 15th day of the fourth month following the close of the tax year. Electronic filing of Form NJ-1065 and its related forms and schedules is required if the services of a paid preparer are utilized or if the partnership has 10 or more partners.
For New Jersey gross income tax purposes, all income expense, gain, or loss from partnership activities, whether ordinary or separately stated for federal purposes, must be reported as partnership income on Form NJ-1065. Amounts will flow from the Federal Schedule K, and then will be adjusted for New Jersey purposes. Source information for the New Jersey additions, subtractions, and apportioned amounts may flow from the federal forms, the Financials – Income Statement, or the Multistate Allocation and Apportionment Information worksheet in the General section of the return. Manual adjustments can be made by overriding the affected lines.
Information for the partners will flow from the Form 1065 Schedule K-1 and from the Schedule NJK-1. The Schedule NJK-1 must be completed for each partner to ensure the data reported in this directory is accurate and complete. The ownership percentage shown is the capital percentage reported on Schedule NJK-1, though the profit or loss percentages are used to calculate the partner’s share of partnership income. The net gain or loss from disposition of assets as a result of a complete liquidation is completed based on Schedule L. The completion of the nonresident columns is controlled by the residency status provided for the partner on Schedule NJK-1.
The federal worksheet K-1 (1065) must be completed for income, credits, and deductions received from other partnerships. This information will complete Column B of Part I. To complete Part II, enter NJ as the resident or nonresident state on the K-1 (1065), and an input version of the Schedule NJK-1 (Sch K-1) will load in the return to allow entry of the New Jersey specific amounts.
This schedule is used to calculate the available sheltered workshop tax credit for partners. Complete the required information and the credit for each employee will complete based on the total wages and the limitation.
This schedule calculates from the data provided in the Multistate Allocation and Apportionment Information worksheet in the General section of the return. If the Multistate Allocation and Apportionment Information worksheet is not used, the allocation factor will be assumed to be 1.00000 throughout the return.
Partnerships that have liquidated in the current year should check the related box at the top of Form NJ-1065 to load this schedule. This schedule will complete based on federal data. The middle column for amounts due to disposition in liquidation must be completed manually. The questions at the bottom of the schedule must be completed and dates entered, as applicable.
If business activities are carried on inside and outside New Jersey, this schedule is required. This schedule calculates from the data provided in the Multistate Allocation and Apportionment Information worksheet in the General section of the return. If the Multistate Allocation and Apportionment Information worksheet is not used, the allocation factor will be assumed to be 1.00000 throughout the return.
Schedule NJ-K-1 shows information for each partner. Provide the entity type for New Jersey purposes and the date the partner’s interest began. Answer the physical nexus question if the correct answer is not already calculated. Most of the information will be calculated based on return data, though 401(k), pension, and HEZ deduction information will need to be manually entered for each partner.
Form NJ-1065E is used identify nonresident partners who need not have tax remitted by the partnership on their behalf. Complete this form for each affected nonresident partner annually by the earlier of the fifteenth day of the fourth month after the close of the tax year or the date the return is filed. This form must be retained by the filing entity.
Form PART-100 is required if the partnership filed Form PART-200-T, if a filing fee or nonresident partner tax is due on Form NJ-1065, or if an installment payment was reported on the prior year PART-100. This form may be filed electronically with Form NJ-1065. This form may also be filed online directly with the state at www.njtaxation.org. This form is subject to the electronic filing mandate for partnerships that utilize the services of a paid preparer or have 10 or more partners. Amounts due may be paid electronically when filing the return.
Form PART-160 is used to determine if partnerships paid enough estimated tax. Payments of estimated tax and prior year overpayment credited to the state of New Jersey will flow from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. A detailed worksheet that accommodates multiple payments for single installments is provided. If one of the exceptions listed is not met, installment interest due will be calculated based on information provided in the return.
Form PART-200-T used to request an automatic five month extension of time to file New Jersey PART-100, Partnership Filing Fee and Tax Payment. At least 80% of the fee and/or tax reported must be paid by the original due date of the return, else the extension will be denied. This form is subject to the electronic filing mandate for partnerships that utilize the services of a paid preparer or have 10 or more partners. This form may be electronically filed directly with the state at www.njtaxation.org. If not filing electronically, mail this form and the payment to Filing Fee and Tax on Partnerships, PO Box 642, Trenton, NJ 08646-0642. Make the check or money order payable to State of New Jersey – PART.
Use the Form CBT-150 Worksheet to calculate the estimated tax payments to be made for the following tax year. Estimated tax payments are required if prior year tax liability is greater than $500. Four payments of 25% of the estimated tax are due during the fourth, sixth, ninth, and twelfth months of the tax year, unless the corporation has gross receipts of $50,000,000 or more where one 50% estimated tax payment is due in the sixth month and two 25% payments are due in the fourth and twelfth months. CrossLink calculates the due date and payments based on the tax year beginning date of the tax year provided on the Client Data screen, the estimated taxable income provided, and the gross receipts shown on the Financials – Income Statement. Estimated tax payments may be made by mailing the vouchers provided and payment to State of New Jersey Division of Taxation, Revenue Processing Center, PO Box 193, Trenton, NJ 08646-0193. Taxpayers with prior year tax liability of $10,000 or more must make estimated tax payments through electronic funds transfer with the state of New Jersey. Instructions for enrollment of the New Jersey EFT program can be found at www.state.nj.us/treasury/revenue/enrolleft.
Form CBT-160A is used to determine if corporations with total gross receipts less than $50,000,000 paid enough estimated tax. Payments of estimated tax and prior year overpayment credited to the state of New Jersey will flow from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. A detailed worksheet that accommodates multiple payments for single installments is provided. If one of the exceptions listed is not met, installment interest due will be calculated based on information provided in the return.
Form CBT-160B is used to determine if corporations with total gross receipts of $50,000,000 or more paid enough estimated tax. Payments of estimated tax and prior year overpayment credited to the state of New Jersey will flow from the State Taxes Paid Worksheet on the Income Statement when the state ID entered is “NJ”. A detailed worksheet that accommodates multiple payments for single installments is provided. If one of the exceptions listed is not met, installment interest due will be calculated based on information provided in the return.
Form CBT-200-T used to request an automatic six month extension of time to file a New Jersey Corporation Business Tax return. Any related payment may be remitted by mail or through the EFT program, but the CBT-200-T should be filed by mail to State of New Jersey Division of Taxation, Revenue Processing Center, PO Box 666, Trenton, NJ 08646-0666 in either case.
Form CBT-2553 is used to elect to be treated as a New Jersey S Corporation or a New Jersey QSSS or to report a change in shareholders. The completed form must be mailed within one calendar month of the time at which a federal S Corporation election would be required to the following address: New Jersey Division of Revenue, PO Box 252, Trenton, NJ 08646-0252. Use of Registered Mail is recommended by the state. An election made after the fifteenth day of the fourth month but before the end of a tax year will be treated as made for the next year.
Form 500 is used to track net operating loss from prior periods and to determine the current NOL deduction.
Form 501 is used to determine the Domestic Production Activities Deduction permitted for New Jersey purposes on Forms CBT-100 and CBT-100S. Activities that do not pertain to the taxpaying entity and activities related to the growth, production, extraction, engineering, and other services must be eliminated in arriving at the New Jersey deduction.
Form 501-GIT is used to determine the Domestic Production Activities Deduction permitted for New Jersey gross income tax purposes reported on Forms NJ-1065 and CBT-100S Schedules K and K Liquidated. The New Jersey deduction is not permitted for qualified production property grown or extracted by the taxpayer, films, electricity, natural gas, potable water, computer software or sound recordings produced by the taxpayer, construction activities, and engineering or architectural services.
Form GIT-DEP is used to calculate the required New Jersey depreciation adjustment for Forms NJ-1065 and CBT-100S Schedules K and K Liquidated. This form will calculate based on data provided on the Asset Worksheets and Form 4562 in the return. Retain this form for future reference.
This schedule is used for a non-New Jersey corporation to claim immunity from income taxation pursuant to Public Law 86-272, 73 Stat. 555, USC Section 381. If any question is answered Yes, the corporation’s activities are not nexus-immune and this form will be removed from the return. Nexus-immune corporations are required to pay the greater of the minimum tax or the Alternative Minimum Assessment from Schedule AM.
This schedule is used to eliminate nonoperational activities from New Jersey taxable income. Nonbusiness dividends, interest, rental of tangible property, and royalties in the Sales Federal section of the Multistate Allocation and Apportionment Information worksheet will be calculated on this form. Override to make adjustments. All other nonoperational items must be manually entered. Manually enter the information in Part III by activity and list the New Jersey taxable portion of each activity.
The New Jersey E-file Worksheet is used to initiate electronic filing of the corporate tax return and to schedule an electronic funds withdrawal of the balance due or direct deposit of the refund, if desired. This is not a state form, and there is no retention requirement for this worksheet.
The New Jersey E-file Worksheet is used to initiate electronic filing of the partnership tax return and to schedule an electronic funds withdrawal of the balance due or direct deposit of the refund, if desired. This is not a state form, and there is no retention requirement for this worksheet.
The New Jersey E-file Worksheet is used to initiate electronic filing of the corporate tax return and to schedule an electronic funds withdrawal of the balance due or direct deposit of the refund, if desired. This is not a state form, and there is no retention requirement for this worksheet.