The following is of interest to NJ based investment clubs.

 

The inflation adjusted limits for the NJ Partnership Filing Fee exemption for 2003 have been released. They are the lesser of $253,200 for total assets or $35,500/partner as of the end of the tax year.

 

For more information see pg 2 of the following:

 

 

Remember that if your club paid the Partnership Filing Fee for 2002 because it didn't meet the $60,000 exclusion, but did meet the revised $250,000 or $35,000/partner limit, you can apply for a refund.

 

Ira Smilovitz