Instructions for Form NJ-1065 Partnership Return and New Jersey Partnershop Njk-1 - New Jersey

Form NJ-1065 Schedule L Complete Liquidation - New Jersey

This document contains official instructions for Form NJ-1065 , Partnership Return and New Jersey Partnershop Njk-1 - a form released and collected by the New Jersey Department of the Treasury. An up-to-date fillable Form NJ-1065 Schedule L is available for download through this link.

FAQ

Q: What is Form NJ-1065?
A: Form NJ-1065 is the Partnership Return form that partnerships in New Jersey need to file for their state taxes.

Q: What is the purpose of Form NJ-1065?
A: The purpose of Form NJ-1065 is to report the partnership's income, deductions, credits, and other information for New Jersey tax purposes.

Q: Who needs to file Form NJ-1065?
A: Partnerships that have income derived from or attributable to New Jersey and at least one partner who is a New Jersey resident or a corporation that does business in New Jersey are required to file Form NJ-1065.

Q: Is Form NJ-1065 separate from the federal partnership return?
A: Yes, Form NJ-1065 is a separate state tax return and should be filed in addition to the federal partnership return.

Q: What is Form NJK-1?
A: Form NJK-1 is the Schedule K-1 counterpart for New Jersey. It is used to report each partner's share of the partnership's income, deductions, credits, and other information.

Q: Who needs to file Form NJK-1?
A: Partnerships that file Form NJ-1065 are required to provide a completed copy of Form NJK-1 to each partner.

Q: What is the due date for filing Form NJ-1065?
A: Form NJ-1065 must be filed by the 15th day of the fourth month following the close of the partnership's tax year.

Q: Is there an extension available for filing Form NJ-1065?
A: Yes, a partnership can request an extension to file Form NJ-1065 by filing Form NJ-630.

Q: Is there a penalty for late filing of Form NJ-1065?
A: Yes, there is a late filing penalty of $100 per month or part of a month for each partner up to a maximum of $500.