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16477: NJ - Corporate - Automatic Extension for Some Fiscal Year Filers - Forms Not Available


New Jersey

New Jersey is allowing for an automatic extension to file for some fiscal year returns. In Drake Tax, applicable returns display a return note instead of forms. 

 

2020 - Per the NJ Department of the Treasury Division of Taxation:  

"One of the changes resulting from the enactment of P.L. 2020, c. 118 (which was signed into law on November 4, 2020), was a change in the original due date of a Corporation Business Tax return to 30 days after the due date of the federal return. In general, this means that a return is due on the 15th day of the month following the due date of the federal return. This may impact some taxpayers' original due dates.

The 2020 Corporation Business Tax returns (Forms CBT-100, CBT-100U, BFC-1, BFC-1-F, and CBT-100S) are currently in the process of being updated to incorporate the new law's changes, which is delaying the start of the filing season.

Taxpayers with returns that have an original due date that falls anytime between November 15, 2020 and March 15, 2021, are granted an automatic extension to file their tax returns by April 15, 2021. A taxpayer will not be charged late filing penalties if the return is filed by April 15, 2021 (the extended due date). This extension applies only to the filing of the return and does not extend the time to make all required payments. (Note: If a due date falls on a weekend or a legal holiday, the return and payment are due on the following business day.)

Affected taxpayers that apply for an extension of time to file have 6 months from the original due date to file their tax returns. If you are filing form CBT-100, CBT-100U, or BFC-1 (BFC-1-F) and your year ended on July 31, 2020, you must file your tax return on or before June 15, 2021, which is 6 months after the original due date of December 15, 2020. If you are filing Form CBT-100S and your year ended on July 31, 2020, you must file your tax return on or before May 15, 2021, which is 6 months after the original due date of November 15, 2020."

2019 - Per the NJ Department of the Treasury Division of Taxation:

"2019 Corporation Business Tax returns (Forms CBT-100, CBT-100U, BFC-1, BFC-1-F, and CBT-100S) are currently in the process of being finalized, which is delaying the start of the filing season.

Taxpayers with accounting periods ending between July 31, 2019, and November 30, 2019, have been granted an automatic extension to file their tax returns by April 15, 2020. The taxpayer will not be charged late filing penalties if the return is filed by the April 15, 2020, extended due date. The extension applies only to the filing of the return and does not extend the time to make all required payments.

In addition to the automatic extension, taxpayers can submit the Corporation Business Tax Tentative Return and Application For Extension of Time to FileForm CBT-200-T, which provides a 6-month extension. However, the return will be due 6 months from the original due date."

This automatic extension only applies to the state CBT-100, BFC-1, or CBT-100S, not the federal return. Any payments are still required to be made on or before the due date that applies to the fiscal filer.

Note: Form CBT-200-T is not currently available in Drake Tax (as of 01/10/20)

In Drake18, a note generates in view mode in place of the forms: 

In Drake19, NJ data entry displays a "Program not available" message and the following note in view mode: 

In Drake20, NJ displays the following note in view mode:

The note will be cleared and the forms displayed as soon as the forms have been finalized and the programming is approved by the state. 


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