Form Nj-Cbt-1065 - Partnership Application For Extension Of Time To File printable pdf download

PARTNERSHIP APPLICATION FOR EXTENSION OF TIME TO FILE FORM NJ-CBT-1065

General Instructions

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PURPOSE OF THE CBT-206

Use Form CBT-206 to apply for a five (5) month extension of time to file Form NJ-CBT-1065 that has a tax due.

QUALIFYING FOR THE EXTENSION

To be eligible for an extension you must have paid, by the original due date of your return, either through a tiered partnership payment, esti-

mated payments, or a payment made with this form, at least 90% of the tax reported on New Jersey Form NJ-CBT-1065 when filed. If the

90% requirement is not met, or you do not file Form NJ-CBT-1065 by the extended due date, the extension will be denied. Penalty and inter-

est charges will be imposed from the original due date of the return.

Requests to extend the time limit to file Form NJ-CBT-1065 that has a tax due must use Form CBT-206. Filing Form CBT-206 does not sat-

isfy a partnership’s obligation to file Form NJ-CBT-1065 nor does it extend the time for payment of tax due on the return. You will be notified

by the Division of Taxation only if your extension is denied, however not until after your Form NJ-CBT-1065, is actually filed.

WHEN TO FILE CBT-206

Form CBT-206 must be postmarked on or before the original due date of the NJ-CBT-1065.

HOW TO FILE CBT-206

Electronic Filing Mandate - Beginning with tax year 2011, Partnerships subject to the provisions of the Corporation Business Tax Act (that is

partnerships that remit tax based on any nonresident corporate and nonresident noncorporate partner’s allocable share of NJ partnership

income) that utilize the services of a paid preparer must file all their returns completed by that practitioner via electronic means. Payments of

the partnership liabilities along with the submission of payment related returns (NJ-CBT-V and CBT-206) must also be made electronically

either by the partnership or by a paid tax practitioner. In addition, partnerships with 10 or more partners must file all returns electronically

regardless of whether or not they utilize the services of a paid tax preparer.

CBT-206 extension requests, along with payment, may be filed online until 11:59 p.m. on or before the original due date of your return (April

15 for calendar year filers) at

Pay by Check or Money Order - Detach and return Form CBT-206 with your payment. Make your check or money order payable to “State

of New Jersey- CBT”. Write your Federal Employer Identification Number (Federal EIN) and the tax year on the check. DO NOT staple or

otherwise attach your payment to Form CBT-206 and mail both to the address listed on the application for extension.

WORKSHEET FOR FORM CBT-206 - Please use the enclosed CBT-206 worksheet to assist when calculating your tax liability.

Specific Instructions

FILLING IN YOUR FORM

Please use black or blue ink (and never use red ink) when making entries on this form.

Partnerships must enter the Federal EIN of the partnership. Failure to provide an identification number may invalidate this extension. If the

partnership does not have a Federal EIN but had applied for one, enter applied for.

PENALTIES AND INTEREST

Late Filing Penalty - Partnerships may be subject to a penalty of $100 per month (or fraction of a month) that the return is late. A penalty of

5% per month (or fraction of a month), up to a maximum of 25% of the balance of tax due with the return, may also be imposed.

Late Payment Penalty - 5% of the outstanding tax balance may be imposed.

Interest - 3% above the prime rate for every month or fraction of a month the tax is unpaid, compounded annually. At the end of each calen-

dar year, any tax, penalties, and interest remaining due (unpaid) will become part of the balance on which interest is charged.

FILING YOUR NJ-CBT-1065

You can file your NJ-CBT-1065 any time before the extension expires. Do not attach CBT-206 to Return NJ-CBT-1065. Filing Form CBT-

206 does not satisfy your obligation to file Form NJ-CBT-1065. The tax due on the NJ-CBT-1065 must be paid on or before the original

due date of your return, if filing a calendar year return that date is April 15.

QUESTIONS?

To speak directly to a Division of Taxation representative for tax information and assistance, contact our Customer Service Center at 609-

292-6400, Monday through Friday from 8:30 a.m. to 4:30 p.m.

Form Nj-Cbt-1065 - Partnership Application For Extension Of Time To File

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