State Of New Jersey S Corp Election

Election to be recognized as a new jersey s corporation.

App design baju jersey. Nominated for appointment by governor phil murphy on december 18 2017 ms. Tahesha way serves as new jerseys 34th secretary of state. Corporations in new jersey can be treated as an s corporation based on chapter 173 pl.

A new jersey s corporation is a company that has elected s corporation taxation with the irs. This means that the individual shareholders will be taxed on business income instead of the corporation. As secretary of state ms.

New jersey secretary of state. Timely valid new jersey s corporation election the division of taxation has adopted a retro active s corporation election procedure. The letter must be signed by all shareholders holding more than 50 of the outstanding shares of stock on the day of the revocation and a copy of the.

An electing small business trust esbt that is a shareholder of a federal s corporation can seek new jersey s corporation status for the corporation of which it is a shareholder by completing the subchapter s election form cbt 2553 signed by the trustee of the esbt. Part ii shareholders consent statement by signing this election we the undersigned shareholders consent 1 to the corporations election to be treated as a new jersey s corporation under njsa. Elect new jersey s corporation status.

Once an election is made and accepted a corporation may remain a new jersey s corporation as long as it is a federal s corporation. To revoke an election a letter of revocation must be filed. A federal s corporation that has not filed form cbt 2533 or been approved as a new jersey s corporation is subject to the new jersey corporate tax rates for ordinary corporations.

New jersey s corporation introduction. New jersey requires a corporation to file a separate election to be a new jersey s corporation the state election is made on form cbt 2553 new jersey s corporation or new jersey qsss election. To revoke an election a letter of revocation must be filed with the nj division of revenue and enterprise services client registration s corp po box 252 trenton nj 08646 0252.

Way holds one of the nations oldest constitutional offices and leads a department with a diverse portfolio. New york also requires a corporation to file a separate election to be a new york s corporation the state election is made on form ct 6. B an administrative user fee of 10000 shall be included with a taxpayers filing of its retroactive new jersey s corporation election form cbt 2553 r for each tax year that will be affected by the late filing.

Way was sworn in on february 26 2018. Once a state election is made and accepted the corporation remains a new jersey s corporation as long as it is a federal s corporation.