N.J. Admin. Code § 18:35-11.2

Current through Register Vol. 56, No. 8, April 15, 2024

Section 18:35-11.2 - Apportionment of the partnership fee

(a) Every partnership, regardless of any I.R.C. § 761(a) election, having income derived from New Jersey sources and having more than two owners shall make a payment of a filing fee of $ 150.00 for each owner of an interest in the entity, provided that the payment shall not exceed $ 250,000.

(b) If a partnership includes nonresident partners, some of whom have physical nexus with New Jersey and some of whom do not, then an apportionment methodology for the partnership filing fee may be used, provided that the partnership has an office outside New Jersey.

(c) The total apportioned partnership fee is equal to the sum of:

1. The number of resident partners multiplied by $ 150.00; plus

2. The number of nonresident partners with physical nexus to New Jersey multiplied by $ 150.00; plus

3. The number of nonresident partners without physical nexus to New Jersey multiplied by $ 150.00 and the resulting product multiplied by the corporate allocation factor of the partnership.

i. The corporate allocation factor consists of a single receipts fraction.

N.J. Admin. Code § 18:35-11.2

Amended by 48 N.J.R. 295(a), effective 2/16/2016