NJ CBT 100S

Forum|Forum|5 years ago
March 3, 2021
1 reply
12 views

What date should I really put on "date of NJ S Corp election"? Indiana S Corp 2018. 1st taxable sale in NJ in 2020. I'm uncomfortable with the default of 1/1/2018 as "date of NJ S Corp election since we never had sales there. Worried about tax notice. Thoughts? Very much appreciate it!

Lacerte Tax

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Best answer by George4Tacks

I would use the first day they did business in that new state. I would imagine there may be more new states for them in the future.

George4Tacks

Level 15

Have they registered with NJ? What date was that?

https://business.nj.gov/pages/business-tax-registration-certificate

Answers are easy. Questions are hard!

cjscpaAuthor

Level 3

Unfortunately, seems they did not. Thanks for providing this link...it's the same one I sent to them earlier this morning...good to know we're going in the right direction. I believe they'll get registered, but it won't be done until this month!

They have an overall operating loss this year. Yet $26K gross sales in NJ. Acting in good faith to file! They'll get their $300 tax due 🙂

Any consequences?

George4TacksAnswer

Level 15

I would use the first day they did business in that new state. I would imagine there may be more new states for them in the future.

Answers are easy. Questions are hard!

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