Instructions For Form Nj-1065 - Partnership Return And New Jersey Partnership Njk-1 - 2012 Page 10
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1710______________________________________2012 Form 1065 ______________________________________
EFC - Exempt Foreign Corporation
Column E: Enter each partner’s share of the net gain (loss)
RO
- New Jersey Resident Other
from the disposition of assets as a result of a complete
NO
- Nonresident Other
liquidation from Line 6, Column A of their Schedule NJK-1.
NOE - Nonresident Other (see below)
Column F: Enter each partner’s share of the net gain (loss)
NOM -
Nonresident Other (see below)
from the disposition of assets as a result of a complete
Codes NPM, FCM and NOM are used to identify nonresident
liquidation from Line 6, Column B of their Schedule NJK-1.
partners that maintain a regular place of business in New
Column G: Enter each partner's share of Pension income
Jersey other than a statutory office. No tax is to be remitted
from Line 5, Column A of their Schedule NJK-1.
on their behalf or on the behalf of an exempt foreign
corporation (EFC) or on a retirement plan approved by the
Column H: Enter each nonresident noncorporate (codes NR,
Internal Revenue Service (NOE).
NT and NE) partner’s share of total income or loss. No entry
is required if the partnership is a “qualified investment
For codes NPM, FCM, NOM, EFC, and NOE the partnership
partnership”, “investment club” is listed on a United States
must obtain and retain in its files a fully completed and signed
national stock exchange; or if the partnership meets hedge
Form NJ-1065E. The form is valid for one return period and a
fund status and has checked the appropriate boxes on the front
new form must be filed with the partnership for any
of Form NJ-1065.
subsequent return periods. If at any time during the course of
an audit, the Division deems it necessary, the partnership must
Enter each nonresident corporate (codes NP, FC and NO)
make the form(s) available.
partner’s share of total income or loss. No entry is required if
the partnership is a qualified investment partnership or if it is
Attach a rider to explain the partner’s entity type in detail for
listed on a United States national stock exchange and has
codes RO, NO and NOM.
checked the appropriate boxes on the front of Form NJ-1065.
Column B: Enter each partner’s Social Security Number
Add Lines 1 through 11, plus any “Tax-exempt interest
(SSN)
for
individual
partners
or
Federal
Employer
income” included on Line 18 from their Schedule K-1,
Identification Number (FEIN) for partners which are entities
Federal Form 1065.
other than individuals, as well as each partner’s name and
address. For individuals, the statute requires that the
Column I: Enter each nonresident partner's share of New
address be that of the person’s principal residence. If the
Jersey income. Multiply the amount from Column H by the
partner is an entity other than an individual, enter the partner’s
corporation allocation factor on Line 1 (above). If the amount
business name.
For corporations, enter the address of
in Column H is a loss, do not make an entry in Column I.
commercial domicile.
Enter each partner’s ownership
Column J: Enter each nonresident noncorporate partner’s
percentage as of the close of the taxable year. If a partner
(codes NR, NT and NE) share of tax. Multiply the amount
disposed of all or part of an ownership interest during the
from Column I by 6.37%.
year, list the partner by the ownership percentage before the
disposition.
If an amended return is filed and the result of multiplying the
amount from Column I by 6.37% is less than the amount
Enter a "Y" if this is the final Schedule NJK-1 for the partner.
reported on the original Partners Directory, report the amount
listed on the original Partners Directory. Do not report the
Note: The amounts listed in Columns C and D represent the
lesser amount, since the partner is entitled to claim credit for
distributive share of partnership income (loss) and the
the originally reported amount.
amounts listed in Columns E an F represent the net gain (loss)
from disposition of assets as a result of a complete liquidation
Column K:
Enter each nonresident corporate partner’s
that the partners who are subject to Gross Income Tax are
(codes NP, FC and NO) share of tax. Multiply the amount
required to report on their tax returns. Columns C and D and
from Column I by 9.0%.
Columns E and F reflect the adjustments allowed for Gross
If an amended return is filed and the result of multiplying the
Income Tax purposes that are reported on page 1 of Form NJ-
amount from Column I by 9.0% is less than the amount
1065. The amounts listed in Columns H and I represent the
reported on the original Partners Directory, report the amount
nonresident partner’s share of income for which the
listed on the original Partners Directory. Do not report the
partnership is required to remit tax. Columns H and I do not
lesser amount, since the partner is entitled to claim credit for
reflect any adjustments. The combined amounts reported in
the originally reported amount.
Columns C and D and in Columns E and F may differ from
the amounts reported in Columns H and I.
Line 2a – Total This Page
Total all nonresident partners’ share of tax from columns J
Column C:
Enter each partner’s Distributive Share of
and K of page 2 of Form NJ-1065. Enter zero, if no tax is
Partnership Income or Loss from Line 4, Column A of their
reported in Column(s) J and/or K.
Schedule NJK-1.
Line 2b – Total From ________ Additional Pages Attached
Column D:
Enter each partner’s Distributive Share of
Partnership Income or Loss from Line 4, Column B of their
Enter the total number of additional pages attached on the line
Schedule NJK-1.
provided. Enter the sum of the totals for columns J and K
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