Form Nj-1040-Es - Estimated Tax Worksheet For Individuals - 2016


2016 Form NJ-1040-ES
General Information
Write your social security number on your check. Joint declara-
tions must include the social security numbers of both spouses/
Estimated tax means the amount which you estimate to be your
civil union partners on all documents submitted. Fiduciaries
income tax for the taxable year after subtracting withholdings
must include the Federal employer identification number of the
and other credits.
estate or trust.
If your estimated tax exceeds $400, you are required to make a
declaration of estimated tax and quarterly estimated tax pay-
How to Calculate Your Estimated Tax
ments. Form NJ-1040-ES is available to make estimated tax
If you are a calendar year taxpayer, estimate tax for the period
payments to the State of New Jersey. To avoid having to make
from January 1, 2016, to December 31, 2016. Determine your
estimated tax payments, you may ask your employer to with-
expected gross income, then subtract personal exemptions and
hold an additional amount from your wages by completing
deductions to arrive at expected taxable income. Apply the
Form NJ-W4. If you have pension income, file Form NJ-W-4P
appropri ate tax rate to your expected taxable income. Subtract
with the payer of the pension to have tax withheld. Failure to
total anticipated credits and withholdings to arrive at your
file a Declaration of Estimated Tax or to pay all or part of a
estimated tax. Use the estimated tax worksheet on page 3 as a
required quarterly estimated tax payment will result in interest
guide for comput ing your estimated tax. Refer to the instruc-
charges on the underpayment.
tions for the NJ-1040, NJ-1040NR, and NJ-1041 income tax
returns for information on what constitutes income, exemptions,
If you cannot readily project the amount of your income for the
expenses, deductions, and credits.
current year, or you need more information on the requirements
for making estimated tax payments, see Tax Topic Bulletin
GIT-8, Estimating Income Taxes.
ach taxpayer may claim the following personal exemptions:
Taxpayer (and either spouse/civil union partner, if filing
Who Must File
jointly, or domestic partner) – $1,000 each
Resident and nonresident individuals as well as certain estates
Taxpayer (and spouse/civil union partner if filing jointly)
and trusts are required to file a declaration of estimated tax for
who is 65 or older – an additional $1,000 each
every tax year in which total New Jersey estimated tax is more
Taxpayer (and spouse/civil union partner if filing jointly)
than $400.
who is blind or disabled – an additional $1,000 each
Please consider the following when determining whether or not
Each dependent who qualifies as your dependent for Federal
you are required to make estimated tax payments.
income tax purposes – $1,500 per dependent
Each dependent under age 22 who is attending an accredited
Minimum Income Filing Threshold. A taxpayer is not
institution of higher education full time – an additional
required to file a New Jersey income tax return or pay tax if
$1,000 per dependent
gross income for the entire year is $20,000 or less (filing status
married/civil union couple, filing joint return or head of house-
hold or qualifying widow(er)/surviving civil union partner), or
Individuals may deduct the following:
$10,000 or less (estates and trusts, or individ uals with filing sta-
Medical expenses in excess of 2% (.02) of gross income,
tus single or married/civil union partner, filing separate return).
qualified Archer medical savings account (MSA) contribu-
tions, and health insurance costs of the self-employed
Retirement Income Exclusion. Individuals who qualify may
Alimony and separate maintenance payments, subject to
be able to exclude from gross income up to $20,000 (filing sta-
certain limitations
tus married/civil union couple, filing joint return), $15,000 (fil-
Qualified conservation contributions
ing status single, head of household, or qualifying widow(er)/
Health Enterprise Zone deduction
surviving civil union partner), or $10,000 (filing status married/
Property tax deduction or credit (claim only one)
civil union partner, filing separate return) of taxable pension and
Alternative business calculation adjustment
other income.
Taxpayers whose gross income for the entire year
Other Credits
exceeds $100,000 do not qualify for the exclusion.
Individuals who meet the eligibility requirements may claim the
following credits when determining their estimated tax: prop-
When to File
erty tax credit or deduction (claim only one), New Jersey earned
Your declaration and first installment must be filed on or before
income tax credit, and sheltered workshop tax credit. Refer to
April 15, 2016, for calendar year filers or by the date specified
the income tax return instructions for information on how to
in these instructions for Farmers or Changes in Income. If you
estimate the amount of your credit(s).
elect to pay your estimated tax in four equal installments, addi-
tional declarations and payments must be filed on or before
Fiscal Year Taxpayers
June 15, 2016, September 15, 2016, and January 15, 2017.
Fiscal year filers should estimate their tax based on the expected
How ever, if any date falls on a Saturday, Sunday, or legal holi-
income for the period covering their fiscal year. If your tax
day, substitute the next regular workday.
return is filed on a fiscal year basis, change the calendar year
dates on the vouchers to correspond with the 15th day of the
Where to File
fourth, sixth, and ninth month of your fiscal year, and the first
Mail your declaration vouchers along with your check or money
month of your succeeding fiscal year.
order to: State of New Jersey, Division of Taxation, Revenue
Processing Center, PO Box 222, Trenton NJ 08646-0222.


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