N.J. Admin. Code § 18:35-11.3 - Annual return; payment of tax or fee due; extensions of time to file tentative return; estimated payment
(a) A partnership having a resident New Jersey
owner of an interest in the entity or having any income derived from New Jersey
sources is required to file a partnership return Form NJ-1065 on or before the 15th
day of the fourth month after the end of the tax year. See
18:35-1.3.
(b) Any partnership having a liability for a
filing fee payment pursuant to
54A:8-6 or having tax due pursuant to
54:10A-15.1 1 must file Form PART-100,
Partnership Return Voucher, and Form NJ-1065. The applicable payment must accompany
Form PART-100. Form PART-100 must be postmarked on or before the original due date
for the return.
(c) A partnership may
obtain an extension of time to file the New Jersey Partnership Return (Form NJ-1065)
for a period of five months beyond the original due date, providing that the
requirements of (c)1 below are satisfied. Extensions beyond five months from the
original due date of the return will be granted only in cases where the Director
determines that exceptional circumstances exist. This subsection provides the
authority for an extension of time to file and is not to be considered an extension
of time to pay the filing fee and/or tax due. A partnership's liability is due, in
full, by the original due date of the return. The partnership is subject to interest
and late filing penalty as described in (c)5 below if the full amount is not paid by
the original due date of the return.
1. A
five-month extension of time to file a New Jersey Partnership Return will be granted
only if, by the original due date of the return, the partnership has paid in, either
through tiered partnership payments, installment payment, estimated payments, or a
payment made with the Partnership Tentative Return and Application for Extension of
Time to File, at least 80 percent of the filing fee and/or tax due computed on the
New Jersey Form PART-100, Partnership Return Voucher when filed and:
i. The partnership obtains a valid five-month
extension for Federal income tax purposes and attaches a copy of the application for
automatic Federal extension (Federal Form 7004) to the final New Jersey Partnership
Return when filed; or
ii. If no Federal
extension is requested, the partnership completes and submits Federal Form 7004 by
the original due date of the return.
2. A partnership shall file Form PART-200-T,
Partnership Tentative Return and Application for Extension of Time to File New
Jersey, only if the partnership is required to remit payment to the Division of
Taxation by the original due date of the return in order to meet the 80 percent
requirement of (c)1 above.
3. Failure to
satisfy either the 80 percent payment requirement of (c)1 above by the original due
date of the return, or to file the Partnership Return by the extended due date, will
result in the retroactive denial for the extension as of the original due date of
the return. In those cases, the partnership will be subject to interest, late filing
penalties and late payment penalties from the original due date of the return, as
described in (c)4 and 5 below.
4. A
partnership that has not satisfied the 80 percent payment requirement of (c)1 above,
or fails to file the Partnership Return by the extended due date, will be subject to
the following late filing penalties, which shall be imposed on the first day
following the original due date of the return and on the same calendar day of each
succeeding month thereafter:
i. $ 100.00 per month
or any fraction of a month that the return is delinquent;
ii. Five percent per month or any fraction of a
month that the return is delinquent, up to a maximum of 25 percent of the balance of
any filing fee and/or tax due with the return; and
iii. Interest on the unpaid filing fee and/or tax
calculated at three percentage points above the prime rate. Interest is imposed for
each month (or a fraction thereof) on the unpaid balance of filing fee and/or tax
due. At the end of each calendar year, all filing fee and/or tax, penalties, and
interest remaining due become part of the unpaid balance on which interest will be
charged.
5. A partnership
that makes a payment of fee and/or tax after the original due date of the return,
with or without an extension of time to file, is subject to the following late
payment penalty and interest payments:
i. A five
percent penalty for late payment of any filing fee and/or tax balance; and
ii. Interest on the unpaid filing fee and/or tax
calculated at three percentage points above the prime rate. Interest is imposed for
each month (or a fraction thereof) on the unpaid balance of filing fee and/or tax
due. At the end of each calendar year, all filing fee and/or tax, penalties, and
interest remaining due become part of the unpaid balance on which interest will be
charged.
(d) A
partnership seeking an extension of time to file Form NJ-1065 may file a copy of its
application for a Federal extension with its New Jersey return. The box at the top
of Form NJ-1065 labeled "Application for Federal Extension is attached" shall be
checked. If a Federal extension has not been obtained, a request for a State
extension must be made by filing Federal Form 7004 with the Division of Revenue and
Enterprise Services on or before the original due date of the State return. In
addition, any partnership that has a filing fee and/or tax due must file Form
PART-200-T, Partnership Tentative Return and Application for Extension of Time to
File. The applicable payment must accompany this Form. Form PART-200-T must be
postmarked on or before the original due date of the return. An extension of time to
file Form NJ-1065 does not extend the time to pay the filing fee and/or tax due. It
also does not extend the time for filing the tax return or returns of the partners.
Notes
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