Fillable Form Scc-5 - Spill Compensation And Control Tax

SPECIFIC INSTRUCTIONS - Continued

Line 11 - Credit from Part II of Reconciliation Form SCC-8 -

Enter the amount from Part II, Line 9 of Form SCC-8 in Column A, B or C, whichever is applicable.

Line 12 - Amount of Tax Due -

Subtract Line 11 from Line 10 in each column.

Line 13 - Total Amount of Tax Due -

Add Line 12 Column A, Line 12 Column B, and Line 12 Column C. Enter Total Amount of Tax Due on Line 13.

Line 14 - Credit from Part I of Reconciliation Form SCC-8 -

Enter the amount from Part I, Line 7 of Form SCC-8 in Column C.

Line 15 - Balance of Tax Due -

Subtract Line 14 from Line 13. If Line 14 is greater than Line 13, enter zero on Line 15.

Line 16 - Penalty and Interest Due -

Calculation of penalty and interest is as follows:

LATE PAYMENT PENALTY - 5% of the tax amount received after the due date may be imposed.

LATE FILING PENALTY - 5% per month or fraction thereof on the amount of underpayment not to exceed 25% of that

underpayment, except if no return has been filed within 30 days of the date on which the first notice of delinquency in

filing the return was sent, the penalty shall accrue at 5% per month or fraction thereof of the total tax liability not to exceed

25% of such tax liability. Also, a penalty of $100 for each month the return is delinquent may be imposed.

INTEREST - The annual interest rate is 3% above the average predominant prime rate. Interest is imposed each month

or fraction thereof on the unpaid balance of tax from the original due date to the date of payment. At the end of each

calendar year, any tax, penalties and interest remaining due will become part of the balance on which interest will be

charged.

Note:

The average predominant prime rate is the rate as determined by the Board of Governors of the Federal Reserve

System, quoted by commercial banks to large businesses on December 1st of the calendar year immediately

preceding the calendar year in which payment was due or as redetermined by the Director in accordance with

N.J.S.A. 54:48-2.

Line 17 - Total Balance Due -

Line 15 plus Line 16.

Signature -

This return must be signed by an officer of the taxpayer authorized to act to the effect that the statements contained

therein are true. Tax preparers who fail to sign the return and provide their assigned tax identification number shall be

liable for a $25 penalty for each such failure. If the tax preparer is not self-employed, the name of the tax preparer’s

employer and the employer’s tax identification number should also be provided.

NOTE: Any owner or operator of a major facility that was subject to the Spill Compensation and Control Tax in 1986 and made tax

payments in 1986, and certain of their successors in interest to such major facilities, should request a copy of the “Spill Tax

Cap Guidelines” to determine if, and to what extent, the cap on annual tax payments provided for under N.J.S.A. 58:10-

23.11h.b.(1)(a) of the Spill Compensation and Control Act applies to them.

Inquiries may be directed to the Audit Services Branch Section at 609-984-7171 or in writing to the NJ Division of Taxation, Audit

Services Branch, PO Box 189, Trenton, NJ 08695-0189. Many State tax forms and publications are now available, both by fax and

through the World Wide Web. Call NJ TaxFax at 609-826-4500 from your fax machine’s phone, or access the Division’s home page

from your computer at:

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Form Scc-5 - Spill Compensation And Control Tax - 2008 Page 5