Form Part-160 - Underpayment Of Estimated N.j. Partnership Tax

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PART-160
Underpayment of Estimated N.J. Partnership Tax
NJ Division of Taxation
Attach to your tax return (Form PART-100)
(09-12)
PARTNERSHIP NAME
FEDERAL EMPLOYER I.D. 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
(a)
1. Amount of 2012 Tax - Refer to line 1 instruction on reverse side. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. 90% of Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Prior year’s tax - Enter the total of lines 3 and 4 from the 2011 PART-100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Enter the lesser of Lines 2 or 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(a)
(b)
(c)
(d)
5. Enter in columns (a) through (d) the installment dates that correspond to
the 15th day of the 4th, 6th, 9th, months of your tax period and the 1st
month succeeding the close of your tax period . . . . . . . . . . . . . . . . . . . . .
6. Enter 25% of Line 4 in columns (a) through (d). . . . . . . . . . . . . . . . . . . . .
7. (a) Amount paid or credited for each period . . . . . . . . . . . . . . . . . . . . . . .
(b) Overpayment of previous installment (enter any overpayment shown
on line 9 that is more than the total of all prior underpayments as a
credit against the next installment) . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Add lines 7(a) and 7(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Underpayment (subtract line 8 from line 6) or overpayment (subtract line 6
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
from line 8)
PART II
Exceptions (See Instructions)
10. 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
month of your tax period and the 1st month succeeding the close of your
tax period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25% of tax
50% of tax
75% of tax
100% of tax
11. Exception 1, tax based on the facts shown on the prior year’s return but
using current year’s rates. Refer to instructions on reverse side regarding
the taxable periods of less than one year . . . . . . . . . . . . . . . . . . . . . . . . .
22.5% of tax
45% of tax
67.5% of tax`
90% of tax
12. Exception 2, tax based on annualized tax . . . . . . . . . . . . . . . . . . . . . . . . .
PART III
Installment Interest Due (See Instructions)
13. Amount of underpayment from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14. Enter same installment dates used above at line 5 . . . . . . . . . . . . . . . . . .
15. Enter the date of payment or the 15th day of the 4th month after
the close of the tax year, whichever is earlier . . . . . . . . . . . . . . . . . . . . . .
16. Number of months from the date on line 14 to the date on line 15.
(A part of a month is deemed to be a full month.) . . . . . . . . . . . . . . . . . . .
17. Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18. Installment interest due - Add columns (a), (b), (c), and (d) of line 17.
Enter the total here and include in Line 6 of Form PART-100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
THIS FORM MAY BE REPRODUCED

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