New Jersey (1065)
PTE-100 - Pass-Through Business Alternative Income Tax Return


https://www.state.nj.us/treasury/taxation/pdf/current/pte-bait/pte100instr.pdf
https://www1.state.nj.us/TYTR_BusinessFilings/jsp/common/Login.jsp?taxcode=09
https://www.state.nj.us/treasury/taxation/baitpte/index.shtml
 

Partnership 1065

Election for PTE 

 - Is an Election Required?    Yes 

 - Made when?    Prior to the original due date of the return

 - Good for?    Current return only

 - How do they make this election?    Electronically @ https://www1.state.nj.us/TYTR_BusinessFilings/jsp/common/Login.jsp?taxcode=09

 - Separate Form needed?     Yes, electronically

 - Option  to Opt-Out?    Yes, New Jersey > New Jersey S Corporation > Pass-Thru Business Alternative Tax > Preparation code > Prepare PTE Revocation Form (NJ26, Box 30 = 'C')
    
Generation of State PTE Return    
 - How do you generate the form above?    Federal > Common State/City > State PTE Generation > Generate State PTE Return > New Jersey (PTE-ST1, Box 170 = 'X'), New Jersey > New Jersey S Corporation > Pass-Thru Business Alternative Tax > Preparation code > Prepare Form PTE-100 (NJ26, Box 30 = 'X')

 - Is this a separate filing from the main form, part of the main form, or filed on it's own?    Filed electronically on it's own
    
Estimates

 - Are there estimates for this form?    Yes, Form PTE-150

 - How do we generate them?    New Jersey > PTE General Information > Estimated Tax and Application of Overpayment > Estimate Code (NJ26, Box 40)

 - Can you apply an overpayment from the current year form?    Yes, New Jersey > PTE General Information > Estimated Tax and Application of Overpayment > Application of Overpayment Code (NJ26, Box 49 = '7' or Box 46 OVD)
    
Interest/Penalties  

 - Do interest/penalties apply?    Yes

 - If yes, how do we request the calculation?    New Jersey > PTE General Information > Late Interest and Penalties  > Late Interest/Payment/Filing "checked", and Date Filed if After Due Date entered (NJ26, Boxes 90-93 entered)

 - Is there an underpayment penalty?    New Jersey > PTE General Information > Underpayment Penalty (NJ28, Box 90)
    
Additional PTE Information  

 - Does this section apply to this state?    No
 - If yes, what information is required here to complete return?  
    
Additional Input available  

 - Does new input options under State and City Tax Refund flow to the state?    Yes, it flows to PTE-100, line 1 drill down (Calculation of Distributive Proceeds), line 22, adjusting NJ to FD taxable income (w/o state tax refunds)

 - Does new input options under Taxes and Licenses flow to the state?    Yes, it flows to PTE-100, line 1 drill down (Calculation of Distributive Proceeds), line 22, adjusting NJ to FD taxable income (w/o state tax deductions)

 - Does new input options under Rent/Royalty flow to the state?    Yes, it flows to PTE-100, line 1 drill down (Calculation of Distributive Proceeds), line 22, adjusting NJ to FD taxable income (w/o state tax deductions)

 - Does the new input options under Farm flow to the state?    Yes, it flows to PTE-100, line 1 drill down (Calculation of Distributive Proceeds), line 22, adjusting NJ to FD taxable income (w/o state tax deductions)