Instructions For Form Nj-1080-C - Income Tax - Nonresident Composite Return

GENERAL INSTRUCTIONS FOR FORM NJ-1080-C

PRIVACY ACT NOTIFICATION

designated $1 contributions, provides partial public financing to

The Federal Privacy Act of 1974 requires an agency requesting

qualified candidates for the office of Governor of New Jersey. With

information from individuals to inform them why the request is being

its contribution and expenditure limits, the Gubernatorial Public

made and how the information is being used.

Financing Program has since 1977 assisted 44 candidates to conduct

Social security numbers are used primarily to account for and

their campaigns free from the improper influence of excessive

give credit for tax payments. The Division of Taxation also uses

campaign contributions.

Operation of the program has also

social security numbers in the administration and enforcement of all

permitted candidates of limited financial means to run for election to

tax laws for which it is responsible.

the State’s highest office. As a condition of their receipt of public

financing, candidates must agree to participate in two debates which

provide the public with an opportunity to hear the views of each

FEDERAL/STATE TAX AGREEMENT

candidate.

For more information on the Gubernatorial Public

The New Jersey Division of Taxation and the Internal Revenue

Financing Program, contact the New Jersey Election Law

Service have entered into a Federal/State Agreement to exchange

Enforcement Commission at (609) 292-8700 or write to the

income tax information in order to verify the accuracy and

Commission at PO Box 185, Trenton, New Jersey 08625-0185.

consistency of information reported on Federal and New Jersey

Participation in the $1 income tax check-off protects the

income tax returns.

continuity and integrity of the Gubernatorial Elections Fund by

FRAUDULENT RETURN

providing that funds will be reserved for future gubernatorial

Any person who willfully fails to file a return, files a fraudulent

elections thereby deterring the use of needed funding for other

return, or attempts to evade the tax in any manner may be liable for

purposes. If you want to designate $1 to go to help candidates for

a penalty not to exceed $7,500 or imprisonment for a term between

governor pay expenses, check the “Yes” box in the Gubernatorial

three years and five years, or both.

Elections Fund section of the return. Checking the “Yes” box will

not in any way increase your tax liability or reduce your refund.

GENERAL INFORMATION

Enter the exact legal name, trade name, if any, and address of

ATTACHMENTS

the entity filing the return on behalf of its participating members.

For each qualified electing nonresident participant a copy of the

The legal name is the name in which the business owns property or

following must be enclosed with Form NJ-1080-C:

acquires debt. Enter the trade name or d/b/a (doing-business-as)

• Schedule NJK-1, Form NJ-1065, if the filing entity is a

name if different from the entity’s legal name.

partnership, limited liability partnership or limited liability

Enter the entity’s Federal Employer Identification Number

company;

(EIN).

• Form W-2, if the filing entity is a professional athletic team;

Enter the number of nonresident individuals participating in the

composite return in the space provided.

• Schedule NJ-K-1, Form CBT-100S, if the filing entity is a

Check the appropriate box to indicate the type of entity which is

New Jersey electing S Corporation;

filing the return.

• Schedule D, Form NJ-1041, if the filing entity is an estate or

trust.

GUBERNATORIAL ELECTIONS FUND

The Gubernatorial Elections Fund, financed by taxpayer

COMPLETING FORM NJ-1080-C

INSTRUCTIONS FOR PARTNERSHIPS, LIMITED LIABILITY COMPANIES AND LIMITED LIABILITY PARTNERSHIPS

The NJ-1080C return uses two tax rates - 6.37% and 8.97%.

Line 11- Net gain or income from Disposition of Property - Enter

Individual participants with income of less than $250,000, from

on this line the combined amount of Net Gain (loss) from Disposition

the entity preparing and filing the composite NJ-1080C return, are

of Assets as a result of Complete Liquidation that was reported on

listed on Schedule A - Participant Directory - Total Income Less than

Line 6, Column B, Schedule NJK-1, Form NJ-1065, for all

$250,000. The addition of the Taxable Income amounts for all the

participating partners. If the net amount is a loss, enter “0” (zero).

participants on Schedule A is carried over to the appropriate line(s) 8

Line 12 - Distributive Share of Partnership Income - Enter on this

through 16, Column A. The tax rate to be used on Schedule A and

line the combined amount of income from the partnership that was

on line 18 of Column A on the front of the return is 6.37%.

reported on Line 4, Column B, Schedule NJK-1, Form NJ-1065, for

Individual participants with income greater than or equal to

all participating partners. If the combined amount is a loss, enter “0”

$250,000, from the entity preparing and filing the composite NJ-

(zero).

1080C return, are listed on Schedule B - Participant Directory - Total

Income Greater than or Equal to $250,000. The addition of the

Lines 13 through 16 - Enter “0” (zero) on each of these lines.

Taxable Income amounts for all the participants on Schedule B is

Line 17 - Total New Jersey Taxable Income - Enter on Line 17 the

carried over to the appropriate line(s) 8 through 16, Column B. The

total of lines 8 through 16.

tax rate to be used on Schedule B and on line 18 of Column B on the

front of the return is 8.97%.

Line 18 - Tax - Compute the tax by multiplying the amount on Line

17, by 6.37% in Column A or 8.97% in Column B.

Lines 8 through 10 - Enter “0” (zero) on each of these lines.

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Instructions For Form Nj-1080-C - Income Tax - Nonresident Composite Return - 2012 Page 3

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