How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29918
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

An S-Corp is registered in NYS. Business is performed in NJ.

This answer was rated:

An S-Corp is registered in NYS. Business is performed in NJ. What are the tax filing requirements? Is it just NJ since that is where the business was performed even though the Corp is registered in NJ?

You are required to register your foreign (out of state) corporation with the state of New Jersey if you are “transacting business” or “doing business” in New Jersey.

A Certificate of Good Standing from the home state must be included with the New Jersey filing.

A fee of $125.00 for all profit businesses (domestic and foreign) must be submitted at the time of filing.

You will find all details here


Customer: replied 1 month ago.
What about the tax return filings? Just NJ if business is conducted only in NJ even though registered in NY?

S-corporation transacting business in NJ - regardless where it is originally registered - will be under NJ jurisdiction

Please be aware that in NJ - a corporation must file Form CBT-2553 to elect to be treated as a New Jersey S corporation.

A corporation which is an S corporation for Federal purposes but does not elect S corporation status for State purposes would be subject to the corporate tax rates for ordinary corporations.

Then - the S-corporation will file NJ tax return - and will be taxed only on income from NJ sources.

Correspondingly - income passed to you as a shareholder of S-corporation that is from NJ sources will be taxed for you on NJ state level.

Here is the form

See line 2 - regarding allocation factor - so using that allocation factor - you will calculate income attributed to NJ only and will be taxed only on that income.

Lev and other Tax Specialists are ready to help you