Form Cbt-160 - Underpayment Of Estimated N.j. Corporation Business Tax

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CBT-160

Underpayment of Estimated N.J. Corporation Business Tax

N.J. Division of Taxation

Attach to your tax return (Form CBT-100 or CBT-100S)

(5-98)

For taxable years ending July 31, 1998 through June 30, 1999

CORPORATE NAME

FEDERAL EMPLOYER I.D. NUMBER

N.J. CORPORATION NUMBER

PART I

How to Compute Your Underpayment

Note: If you meet any of the exceptions that avoid the underpayment charge for ANY quarter, complete PART II.

1. Amount of Tax (Form CBT-100, Line 13, page 1 or Form CBT-100S, Line 11, page 1) . . . . . . . . . . . . . . . . . . . . .

2. 90% of Line 1. If you were qualified and elected to make a single payment in lieu of paying installments of

estimated tax, you may enter zero. (See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(a)

(b)

(c)

(d)

3. Enter in columns (a) through (d) the installment dates that correspond to

the 15th day of the 4th, 6th, 9th, and 12th months of your tax year . . . .

4. Enter 25% of Line 2 in Columns (a) through (d) . . . . . . . . . . . . . . . . . .

5. (a) Amount paid or credited for each period . . . . . . . . . . . . . . . . . . . .

(b) Overpayment of previous installment (enter any overpayment shown

on line 7 that is more than the total of all prior underpayments as a

credit against the next installment) . . . . . . . . . . . . . . . . . . . . . . . . .

6. Add lines 5(a) and 5(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Underpayment (subtract line 6 from line 4) or overpayment (subtract

line 4 from line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART II

Exceptions

(See Instructions)

8. Total amount paid or credited from the beginning of the tax year through

the installment dates that correspond to the 15th day of the 4th, 6th, 9th,

and 12th months of your tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25% of tax

50% of tax

75% of tax

100% of tax

9. Exception 1, tax based on the facts shown on the prior year’s return but

using current year’s rates (if prior return was for a period of less than a

year, see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

22.5% of tax

45% of tax

67.5% of tax`

90% of tax

10. Exception 2, tax based on annualized tax . . . . . . . . . . . . . . . . . . . . . . .

PART III

Installment Interest Due

(See Instructions)

11. Amount of underpayment from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . .

12. Enter same installment dates used above at line 3 . . . . . . . . . . . . . . . . .

13. Enter the date of payment or the 15th day of the 4th month after the

close of the tax year, whichever is earlier . . . . . . . . . . . . . . . . . . . . . . .

14. Number of months from the date on line 12 to the date on line 13.

(A part of a month is deemed to be a full month.) . . . . . . . . . . . . . . . . .

15. Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16. Installment interest due - Add columns (a), (b), (c), and (d) of line 15.

Enter the total here and on page 1, line 19, of Form CBT-100 or CBT-100S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

THIS FORM MAY BE REPRODUCED