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Does New Jersey tax S Corporations for owning real estate?

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If yes, how is that...
Does New Jersey tax S Corporations for owning real estate? If yes, how is that tax reported?
Submitted: 9 months ago.Category: Tax
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Answered in 4 hours by:
11/7/2017
Tax Professional: Barbara, Enrolled Agent replied 9 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,694
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

S corporations in NJ are required to file Form CBT-100S.

The following link contains Form CBT-100S, its instructions, and payment voucher:

http://www.state.nj.us/treasury/taxation/prntcbt.shtml

The following link contains information regarding the taxation of S corporations in NJ:

http://www.nj.gov/treasury/taxation/corp_over.shtml

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Customer reply replied 9 months ago
I have a S corporation with one owner that was initially formed in NJ, it is a company that provides professional services. It acquired a piece of real estate in PA. A few years later the owner moved from NJ to PA bringing the corporation with them and started filing the S Corp taxes in PA as a local entity, at this time it still owned the real estate in PA. Is there a tax issue with NJ for having owned that piece of real estate in PA or for moving the corp out of NJ while still owning the real estate? If yes, what is the issue?
Tax Professional: Barbara, Enrolled Agent replied 9 months ago

I apologize for the delay in responding. My computer crashed. Was the s Corp dissolved in NJ?

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