NJ Corporate Tax Return - Min Tax?
NJ Corporate Tax Return - Min Tax?
I opened a corporation in April 2006. That's basically all. I also applied for and got an EIN.
The corporation has not made any business transactions or activity to date.
In NJ, I know it is required to file form CBT-100. My question is, does the minimum tax of $500 apply if the business has not conducted any business?
Does this minimum tax mean that $500 have to be paid with the return? or is this the minimum taxable income?
Thanks!
Answers:
Chosen Answer
aku_aku78: Yes, you owe the minimum tax. That is one of the many downsides to doing business in NJ. I've provided the link to the nj div of taxation website that has the instructions for filing your CBT-100. Page six of that publication refers to new businesses. Good luck.
2007-03-15 07:37:14
aku_aku78: Yes, you owe the minimum tax. That is one of the many downsides to doing business in NJ. I've provided the link to the nj div of taxation website that has the instructions for filing your CBT-100. Page six of that publication refers to new businesses. Good luck.
2007-03-15 07:37:14