New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

For installment payments made in the tax year being prepared, enter the amount of payments in the Prior year installment payment field in Screen NJPmt in the Payments section. The application includes this amount on the Payments and Credits line of Form CBT-100 / CBT-100S. Note that if an amount is entered in this field, the application does not calculate the Form CBT-160-A or CBT-160-B penalty.

To elect installment payments for the coming year, choose option 6 or 7 in the Form CBT-150 - declaration for next year field in Screen NJEst in the Estimates section. The application includes this amount on the Installment Payment line of Form CBT-100 / CBT-100S, Page 1. The installment payment options 6 and 7, for paying the full amount or half the amount of current year tax, are applicable only if the corporation is subject to the minimum tax. 

Related topic: 1120 New Jersey frequently asked questions

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