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New Jersey Income Tax Forms

Modified date: September 9, 2023

Individual Income Tax

Form NJ-1040 Income Tax Resident Return

Corporate Income Tax

Form CBT-100 Corporation Business Tax Return

New Jersey Income Tax Forms: Everything You Need to Know

As the tax season approaches, taxpayers in New Jersey are beginning to gather their paperwork and prepare for filing their state and federal income taxes. With the recent changes to the tax laws, it’s important to stay on top of the latest updates and information regarding New Jersey income tax forms.

In this article, we will cover the basics of New Jersey income tax forms and provide you with the resources you need to file your taxes accurately and on time.

A Brief Overview of New Jersey Income Taxes

New Jersey income taxes are imposed on individuals and businesses that earn income within the state. The tax system is based on a progressive tax rate, which means that higher-income individuals pay a higher percentage of their income in taxes than those with lower incomes.

As of 2021, the state’s income tax rates range from 1.4% for those earning $20,000 or less to 10.75% for those earning $5 million or more. The tax brackets for New Jersey income taxes are adjusted annually based on the rate of inflation.

New Jersey residents are required to file a tax return with the state if they earned at least $10,000 in income or if they are claimed as a dependent on another taxpayer’s return and had more than $1,000 in income.

Types of New Jersey Income Tax Forms

There are several types of New Jersey income tax forms that taxpayers may need to file depending on their income level and other factors. Below are some of the most common types of New Jersey income tax forms that individuals and businesses may need to file:

1. Form NJ-1040

Form NJ-1040 is the primary income tax form used by New Jersey residents to file their state income taxes. Residents must file this form if their gross income for the year is greater than the threshold amount set by the state.

The form includes various sections for reporting income, deductions, credits, and other relevant financial information. Taxpayers must also attach relevant documents such as W-2s, 1099s, and other tax forms to support the information reported on their return.

2. Form NJ-1040NR

Form NJ-1040NR is used by non-residents and part-year residents of New Jersey who earned income within the state. Non-residents must file this form if they earned more than $10,000 in New Jersey or if they had income from New Jersey sources.

Part-year residents must file this form if they earned income both inside and outside of New Jersey during the tax year.

3. Form NJ-1041

Form NJ-1041 is used by estates and trusts that have income derived from New Jersey sources. This form includes a variety of sections for reporting income, deductions, and credits for the estate or trust.

4. Form NJ-630

Form NJ-630 is used by individuals who owe use tax on purchases made outside of New Jersey. Use tax is a tax on goods and services that are purchased from out-of-state sellers and used within New Jersey.

This form is used to calculate and report the use tax owed by the taxpayer for the year.

5. Form NJ-1040ES

Form NJ-1040ES is used by taxpayers who are required to make estimated tax payments throughout the year. This form includes a worksheet for estimating tax liability and a schedule for making quarterly payments.

Taxpayers who are self-employed or who earn income that is not subject to withholding may need to make estimated tax payments to avoid penalties and interest.

Filing Deadlines for New Jersey Income Tax Forms

The filing deadlines for New Jersey income tax forms vary depending on the type of form and the taxpayer’s situation. Below are the general filing deadlines for each type of form:

1. Form NJ-1040

The deadline for filing Form NJ-1040 for the 2020 tax year is May 17, 2021. Taxpayers may request an extension to file until October 15, 2021, but any taxes owed must still be paid by May 17th to avoid penalties and interest.

2. Form NJ-1040NR

The deadline for filing Form NJ-1040NR is also May 17th for the 2020 tax year.

3. Form NJ-1041

The deadline for filing Form NJ-1041 is four months after the close of the tax year. For example, the deadline for filing for the 2020 tax year is April 15, 2021.

4. Form NJ-630

The deadline for filing Form NJ-630 is the same as the deadline for filing Form NJ-1040, which is May 17, 2021.

5. Form NJ-1040ES

The deadlines for making estimated tax payments for the 2021 tax year are:

– April 15, 2021
– June 15, 2021
– September 15, 2021
– January 18, 2022

It’s important to note that taxpayers who owe taxes must make their payments by the deadlines listed above, even if they have requested an extension to file their tax return.

How to File New Jersey Income Tax Forms

New Jersey residents and businesses can file their income tax forms electronically or on paper. Here’s how to file each type of form:

1. Form NJ-1040

Taxpayers can file Form NJ-1040 electronically using New Jersey’s free NJ WebFile system or by using approved tax software. They can also file this form on paper and mail it to the New Jersey Division of Taxation.

2. Form NJ-1040NR

Non-residents and part-year residents can file Form NJ-1040NR electronically or on paper.

3. Form NJ-1041

Estates and trusts can file Form NJ-1041 on paper and mail it to the New Jersey Division of Taxation.

4. Form NJ-630

Taxpayers can file Form NJ-630 electronically using the free NJ WebFile system or on paper.

5. Form NJ-1040ES

Taxpayers can make estimated tax payments using the New Jersey Easy Pay service or by mailing payments to the New Jersey Division of Taxation.

It’s important to keep copies of all tax forms and documents filed with the state for at least three years in case of an audit or other tax issue.

Resources for New Jersey Income Tax Forms

If you need help with New Jersey income tax forms or have questions about the state’s tax laws, there are several resources available to you:

– New Jersey Division of Taxation: The state’s official tax agency has a website with information on filing taxes, making payments, and other tax-related topics.

– NJ Taxation University: This free online training program offers courses on a variety of tax topics for taxpayers, tax preparers, and other professionals.

– Free Tax Preparation Services: The IRS and AARP offer free tax preparation services for eligible taxpayers in New Jersey.

– Taxpayer Advocate Service: This independent organization helps taxpayers resolve disputes with the IRS or state tax agencies.

Conclusion

Filing New Jersey income tax forms can seem overwhelming, but with the right resources and information, taxpayers can file their returns accurately and on time. Be sure to gather all relevant documents and consult with tax professionals if you have questions or concerns.

By understanding the different types of New Jersey income tax forms, filing deadlines, and resources available, taxpayers can navigate the tax season with confidence and ease. Happy filing!