NJ Investment Clubs and the Partnership Filing Fee
| HelpRegister |
NJ Investment Clubs and the Partnership Filing Fee Just in case anyone was wondering, here are the tax year 2006 and tax
year 2007 limits for asset value, in order to avoid having to pay the
$150/partner NJ Partnership Filing Fee:
2006: club total assets less than $278,900 and average "per K-1"
assets less than $39,100
2007: club total assets less than $283,800 and average "per K-1" assets
less than $39,800
(Source: private communication with NJ Division of Taxation)
For those who want to check the math, the calculation is $250,000 (or
$35,000) times the ratio of the US Dept. of Labor CPI for urban wage earners and
clerical workers for the nation as measured in September prior to the tax year
to that of September 2001.
Ira Smilovitz |
|
||||||