Get the free NEW JERSEY CORPORATION BUSINESS TAX FORM 313 - state nj

This form is used by New Jersey corporations to apply for the Economic Recovery Tax Credit, which incentivizes business investment and the creation of new full-time positions in qualifying municipalities.

How to fill out new jersey corporation business

How to fill out NEW JERSEY CORPORATION BUSINESS TAX FORM 313

1. Obtain the New Jersey Corporation Business Tax Form 313 from the New Jersey Division of Taxation website.
2. Enter the corporation's name, address, and federal employer identification number (FEIN) at the top of the form.
3. Report total gross receipts by filling in the appropriate line, ensuring all amounts are accurate and well-documented.
4. Calculate the taxable income and enter it on the designated line of the form.
5. Apply any applicable deductions or credits as outlined in the instructions provided with the form.
6. Compute the total tax due based on the corporation's taxable income according to New Jersey tax rates.
7. Complete any additional schedules or attachments as required.
8. Review the entire form for accuracy and completeness before signing.
9. Submit the form electronically or by mail to the appropriate New Jersey tax office by the due date.

Who needs NEW JERSEY CORPORATION BUSINESS TAX FORM 313?

1. Any corporation conducting business in New Jersey that meets the income threshold for taxation must file Form 313.

People Also Ask about

Can I pay NJ tax online?

If you have a balance due, you may pay your taxes online by e-check or credit card (fees apply) and receive immediate confirmation that your return and payment have been received by the State of New Jersey.

Is corporate tax the same as business tax?

The profit of a C corporation — consisting of the revenue it makes in sales minus the cost of doing business — is taxed twice, once as business income at the entity level (corporate income tax) and again at the shareholder level (individual/personal income tax) when distributed as dividends or realized as capital gains

Can I pay my corporate taxes online?

Electronic Federal Tax Payment System. A free way for the public, businesses, and federal agencies to pay their taxes online.

What is the NJ business tax pin?

Your Business Tax PIN is printed on the "Welcome Letter" you received when you first registered your business. Generally, the 4-digit PIN is the same used to submit New Jersey tax payments and returns (e.g., Withholding Tax returns (Forms NJ-927/NJ-500 or Form NJ-927-W) or Sales and Use Tax returns (Forms ST-50/50B)).

What is the corporate business tax rate in New Jersey?

New Jersey, which levied the highest corporate rate in the country of 11.5 percent from 2021-2023, now has the fourth-highest rate (9 percent), as the state's 2.5 percentage-point corporation business tax surcharge expired at the end of 2023.

How do I pay my New Jersey corporation business tax?

You may make a payment by EFT, e-check, or credit card through our online Corporation Business Tax Online Filing and Payments Service. (Combined Filers must submit payments using the Unitary ID number assigned to the Managerial Member.)

How do I pay my Jersey tax?

Pay your personal or company tax bill Payment deadlines. ​Deb​​​​it ​​or credit card online. Debit or credit card by telephone. Direct debit. Cheque​ Telephone and internet banking.

How much is NJ business tax?

C-Corp Businesses Filing Taxes The State's tax rate is 9% based upon the entire net income or the portion of the entire net income allocated to New Jersey. Taxes for multi-state corporations are apportioned using a three-factor formula of sales, property, and payroll.

What is NJ Corporation business tax?

C Corporation Tax Rates: For taxpayers with Entire Net Income greater than $100,000, the tax rate is 9% (. 09) on adjusted entire net income or such portion thereof as may be allocable to New Jersey. For taxpayers with Entire Net Income greater than $50,000 and less than or equal to $100,000, the tax rate is 7.5% (.

What is NJ corporate business tax?

Although this tax is often called a franchise tax or privilege tax, \ it's known as the corporation business tax (CBT), in New Jersey. In 2023, New Jersey's corporate business tax rate ranges from 6.5% to 9% of a corporation's business income.

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What is NEW JERSEY CORPORATION BUSINESS TAX FORM 313?

NEW JERSEY CORPORATION BUSINESS TAX FORM 313 is a tax form used by corporations in New Jersey to calculate and report their corporation business taxes to the state.

Who is required to file NEW JERSEY CORPORATION BUSINESS TAX FORM 313?

Corporations doing business in New Jersey, as well as out-of-state corporations with New Jersey gross income of over $100,000 or any corporation with a physical presence in the state, are required to file this form.

How to fill out NEW JERSEY CORPORATION BUSINESS TAX FORM 313?

To fill out FORM 313, corporations must provide their basic information, including gross income, applicable deductions and credits, and the calculated tax liability, following the instructions provided with the form.

What is the purpose of NEW JERSEY CORPORATION BUSINESS TAX FORM 313?

The purpose of FORM 313 is to ensure that corporations report their income and calculate the appropriate tax liability owed to the state of New Jersey, thereby facilitating compliance with state tax laws.

What information must be reported on NEW JERSEY CORPORATION BUSINESS TAX FORM 313?

The form requires reporting of total gross income, deductions, taxable income, applicable tax rates, credits, and the final tax amount due, along with identifying information about the corporation.