Has anyone had any success in electronically filing a New Jersey partnership return for their investment club? I followed the instructions in the Bivio guide, but the NJ website tells me I am not registered to file.
I am very reluctant to register our investment club (a Virginia partnership) as business in NJ since we don't do any business there and we don't derive any income from NJ sources.
We happen to have two partners who are NJ residents, hence the NJ requirement to file. Since we have more than ten partners, the NJ guidance requires electronic filing.
Any thought on this?
Thanks in advance.
Ty H.
ira smilovitz on
Ty,
You appear to be caught in the Twilight Zone of NJ government. The Division of Taxation wants a tax return. The Division of Revenue runs the electronic filing system for the state. Revenue says that businesses need to be registered to use the online systems. Taxation says that an investment club is not a business entity, and, if you look at the business registration forms, there is no way to define an investment club as a business. Two or three years ago, "they" put in a workaround that would allow an investment club to create a password even though it wasn't registered with Revenue. Apparently, they've removed that.
One of our users contacted the Division of Taxation and received the following:
"To: ***
If you are unable to electronically file, mail your completed returns to the address below. Please retain documentation showing the error messages and/or rejection codes from your attempts to file electronically.
NJ Division of Taxation - Revenue Processing Center PO Box 194 Trenton NJ 08646-0194
Thank you for contacting the New Jersey Division of Taxation."
Has anyone had any success in electronically filing a New Jersey partnership return for their investment club? I followed the instructions in the Bivio guide, but the NJ website tells me I am not registered to file.
I am very reluctant to register our investment club (a Virginia partnership) as business in NJ since we don't do any business there and we don't derive any income from NJ sources.
We happen to have two partners who are NJ residents, hence the NJ requirement to file. Since we have more than ten partners, the NJ guidance requires electronic filing.
Any thought on this?
Thanks in advance.
Ty H.
Mike Veteto on
Ira, thanks for the update. I see no reason for a club that is contained with in Oklahoma, in fact all members live in the same county in Oklahoma. I sure don't see any justification to supply them with a copy of our federal return. \
So how do we get out of this mess? What if you just delete everything you have and I do my own Oklahoma State return like I have for the past 18 years?
You appear to be caught in the Twilight Zone of NJ government. The Division of Taxation wants a tax return. The Division of Revenue runs the electronic filing system for the state. Revenue says that businesses need to be registered to use the online systems. Taxation says that an investment club is not a business entity, and, if you look at the business registration forms, there is no way to define an investment club as a business. Two or three years ago, "they" put in a workaround that would allow an investment club to create a password even though it wasn't registered with Revenue. Apparently, they've removed that.
One of our users contacted the Division of Taxation and received the following:
"To: ***
If you are unable to electronically file, mail your completed returns to the address below. Please retain documentation showing the error messages and/or rejection codes from your attempts to file electronically.
NJ Division of Taxation - Revenue Processing Center PO Box 194 Trenton NJ 08646-0194
Thank you for contacting the New Jersey Division of Taxation."
Has anyone had any success in electronically filing a New Jersey partnership return for their investment club? I followed the instructions in the Bivio guide, but the NJ website tells me I am not registered to file.
I am very reluctant to register our investment club (a Virginia partnership) as business in NJ since we don't do any business there and we don't derive any income from NJ sources.
We happen to have two partners who are NJ residents, hence the NJ requirement to file. Since we have more than ten partners, the NJ guidance requires electronic filing.
You appear to be caught in the Twilight Zone of NJ government. The Division of Taxation wants a tax return. The Division of Revenue runs the electronic filing system for the state. Revenue says that businesses need to be registered to use the online systems. Taxation says that an investment club is not a business entity, and, if you look at the business registration forms, there is no way to define an investment club as a business. Two or three years ago, "they" put in a workaround that would allow an investment club to create a password even though it wasn't registered with Revenue. Apparently, they've removed that.
One of our users contacted the Division of Taxation and received the following:
"To: ***
If you are unable to electronically file, mail your completed returns to the address below. Please retain documentation showing the error messages and/or rejection codes from your attempts to file electronically.
NJ Division of Taxation - Revenue Processing Center PO Box 194 Trenton NJ 08646-0194
Thank you for contacting the New Jersey Division of Taxation."
Has anyone had any success in electronically filing a New Jersey partnership return for their investment club? I followed the instructions in the Bivio guide, but the NJ website tells me I am not registered to file.
I am very reluctant to register our investment club (a Virginia partnership) as business in NJ since we don't do any business there and we don't derive any income from NJ sources.
We happen to have two partners who are NJ residents, hence the NJ requirement to file. Since we have more than ten partners, the NJ guidance requires electronic filing.