Form Nj-1040-Es Draft - 2017


2017 Form NJ-1040-ES
civil union partners on all documents submitted. Fiduciaries
General Information
must include the Federal employer identification number of the
Estimated tax means the amount that you estimate to be your
estate or trust.
income tax for the tax year after subtracting withholdings and
other credits. If your estimated tax is more than $400, you are
How to Calculate Your Estimated Tax
required to make a declaration of estimated tax and quarterly
If you are a calendar year taxpayer, estimate tax for the period
estimated tax payments. Form NJ-1040-ES is available to make
from January 1, 2017, to December 31, 2017. Determine your
estimated tax payments to the State of New Jersey. To avoid
expected gross income, then subtract personal exemptions and
having to make estimated tax payments, you may ask your
deductions to arrive at expected taxable income. Apply the
employer to withhold an additional amount from your wages
appropri ate tax rate to your expected taxable income. Subtract
by completing Form NJ-W4. If you have pension income, file
total anticipated credits and withholdings to arrive at your
Form NJ-W-4P with the payer of the pension to have tax with-
estimated tax. Use the estimated tax worksheet on page 3 as a
held. Failure to file a Declaration of Estimated Tax or to pay all
guide for comput ing your estimated tax. Refer to the instruc-
or part of a required quarterly estimated tax payment will result
tions for the NJ-1040, NJ-1040NR, and NJ-1041 income tax
in interest charges on the underpayment.
returns for information on what constitutes income, exemptions,
If you cannot readily project the amount of your income for the
expenses, deductions, and credits.
current year, or you need more information on the requirements
for making estimated tax payments, see Tax Topic Bulletin
ach taxpayer may claim the following personal exemptions:
GIT-8, Estimating Income Taxes.
Taxpayer (and either spouse/civil union partner, if filing
Who Must File
jointly, or domestic partner) – $1,000 each
Resident and nonresident individuals as well as certain estates
Taxpayer (and spouse/civil union partner if filing jointly)
and trusts are required to file a declaration of estimated tax for
who is 65 or older – an additional $1,000 each
every tax year in which total New Jersey estimated tax is more
Taxpayer (and spouse/civil union partner if filing jointly)
than $400. Consider the following when determining whether or
who is blind or disabled – an additional $1,000 each
not you are required to make estimated tax payments.
Taxpayer (and spouse/civil union partner if filing jointly) who
is a veteran honorably discharged or released from active
Minimum Income Filing Threshold. A taxpayer is not
duty in the U.S. Armed Forces – an additional $3,000 each
required to file a New Jersey income tax return or pay tax if
Each dependent who qualifies as your dependent for Federal
gross income for the entire year is $20,000 or less (filing status
income tax purposes – $1,500 per dependent
married/civil union couple, filing joint return or head of house-
Each dependent under age 22 who is attending an accredited
hold or qualifying widow(er)/surviving civil union partner), or
institution of higher education full time – an additional
$10,000 or less (estates and trusts, or individ uals with filing sta-
$1,000 per dependent
tus single or married/civil union partner, filing separate return).
Retirement Income Exclusion. Individuals who qualify may
Individuals may deduct the following:
be able to exclude from gross income up to $40,000 (filing sta-
Medical expenses in excess of 2% (.02) of gross income,
tus married/civil union couple, filing joint return), $30,000 (fil-
qualified Archer medical savings account (MSA) contribu-
ing status single, head of household, or qualifying widow(er)/
tions, and health insurance costs of the self-employed
surviving civil union partner), or $20,000 (filing status married/
Alimony and separate maintenance payments, subject to
civil union partner, filing separate return) of taxable pension and
certain limitations
other income.
Qualified conservation contributions
Taxpayers whose gross income for the entire year is more
Health Enterprise Zone deduction
than $100,000 do not qualify for the exclusion.
Property tax deduction or credit (claim only one)
Alternative business calculation adjustment
When to File
Your declaration and first installment must be filed on or before
Other Credits
April 15, 2017, for calendar year filers or by the date specified
Individuals who meet the eligibility requirements may claim the
in these instructions for Farmers or Changes in Income. If you
following credits when determining their estimated tax: prop-
elect to pay your estimated tax in four equal installments, addi-
erty tax credit or deduction (claim only one), New Jersey earned
tional declarations and payments must be filed on or before
income tax credit, and sheltered workshop tax credit. Refer to
June 15, 2017, September 15, 2017, and January 15, 2018.
the income tax return instructions for information on how to
How ever, if any date falls on a Saturday, Sunday, or legal holi-
estimate the amount of your credit(s).
day, substitute the next regular workday.
Fiscal Year Taxpayers
Where to File
Fiscal year filers should estimate their tax based on the expected
Mail your declaration vouchers along with your check or money
income for the period covering their fiscal year. If your tax
order to: State of New Jersey, Division of Taxation, Revenue
return is filed on a fiscal year basis, change the calendar year
Processing Center, PO Box 222, Trenton NJ 08646-0222.
dates on the vouchers to correspond with the 15th day of the
Write your social security number on your check. Joint declara-
fourth, sixth, and ninth month of your fiscal year, and the first
tions must include the social security numbers of both spouses/
month of your succeeding fiscal year.


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