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STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY DIVISION OF TAXATION

STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY DIVISION OF TAXATION 2026

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The document is a guide from the New Jersey Department of the Treasury, Division of Taxation, detailing the requirements for corporations to report nonoperational activities for tax purposes. It includes instructions on completing Schedule O, which consists of three parts: computation of nonoperational activity elimination, declaration and reclassification of nonoperational assets, and computation of tax due on nonoperational activities. The document explains the definitions and classifications of operational versus nonoperational income and assets, outlines the necessary computations for tax returns, and provides guidelines for determining nexus with New Jersey.

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Click ‘Get Form’ to open the STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY DIVISION OF TAXATION in the editor.
Begin with Schedule O - Part I. Enter your Federal Taxable Income in Column A, ensuring it matches what is reported on Schedule A of Form CBT-100.
In Column B, list all nonoperational income and expenses related to assets declared in Schedule O - Part II. Ensure that these figures are accurate and reflect your corporation's financial activities.
Proceed to Schedule O - Part II. Here, declare any nonoperational assets by providing a description, acquisition date, and federal basis for each asset. Indicate if they have a New Jersey nexus.
Finally, complete Schedule O - Part III by computing the tax due on nonoperational activities. Make sure to carry totals from previous sections as required.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can property taxes be cut in half for most older homeowners in NJ?

The Stay NJ program offers property tax benefits to eligible homeowners aged 65 and older. It reimburses applicants for 50% of their property tax bills, up to a maximum of $13,000, with a 2024 benefit cap of $6,500.

How do I become exempt from property taxes in NJ?

Eligibility Active wartime service in the United States Armed Forces. Filing of an application for exemption with the local tax assessor. Honorable discharge. Legal or domiciliary New Jersey residence. New Jersey citizenship. Principal or permanent residence in the claimed dwelling. Property ownership.

At what point do seniors stop paying taxes?

Youre required to file a tax return, regardless of your age, as long as you meet the IRSs gross income filing requirements. Social Security income could be taxable, when your income is above what is considered the base amount. The IRS offers an additional standard deduction amount for taxpayers who are 65 and older.

Are property taxes frozen at age 65 in New Jersey?

What is the New Jersey Senior Tax Freeze program? Despite its name, the Senior Freeze program does not actually freeze your property taxes. Rather, the program reimburses eligible New Jersey residents for any property tax increases once theyre enrolled.

At what age do seniors stop paying property taxes in NJ?

This bill allows New Jersey seniors, 65 years of age and older, whose annual household income, for federal tax purposes, is under $50,000 to also qualify for an annual deferral of property tax payments.

How do I speak to someone at NJ State tax?

Phone: 609-733-5590.

Why am I getting a letter from NJ Division of Taxation?

Staff members do look at some returns manually to see whether the taxpayer filed income, deductions, and credits correctly. In some cases, they will send a filer a letter asking for more information. In such cases, New Jersey will not send a refund until the filer responds with the requested information.

How to check the status of my state tax refund in New Jersey?

Call the Customer Service Center at 609-292-6400 and speak to a Division Representative. The Division will trace the check. You can also request a check tracer for your New Jersey Income Tax refund check for the current year by calling the Divisions Automated Refund Inquiry System at 1-800-323-4400.

STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY DIVISION OF TAXATION 2026

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Can property taxes be cut in half for most older homeowners in NJ?

How do I become exempt from property taxes in NJ?

At what point do seniors stop paying taxes?

Are property taxes frozen at age 65 in New Jersey?

At what age do seniors stop paying property taxes in NJ?

People also ask

How do I speak to someone at NJ State tax?

Why am I getting a letter from NJ Division of Taxation?

How to check the status of my state tax refund in New Jersey?

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STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY DIVISION OF TAXATION 2026

Here's how it works

How to use or fill out STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY DIVISION OF TAXATION with our platform

Complete this form in 5 minutes or less

Got questions?

Can property taxes be cut in half for most older homeowners in NJ?

How do I become exempt from property taxes in NJ?

At what point do seniors stop paying taxes?

Are property taxes frozen at age 65 in New Jersey?

At what age do seniors stop paying property taxes in NJ?

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People also ask

How do I speak to someone at NJ State tax?

Why am I getting a letter from NJ Division of Taxation?

How to check the status of my state tax refund in New Jersey?

Related links

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