Hi Jay
I may have good news. at least, If your intention is to be taxed as an"S" .
NJ has a procedure to allow late S elections. It is filed on CBT 2553R. The instructions state that this is to be accompanied by the CBT 2553..
The instructions say that it will only be granted to a company who has timely filed, and this is for a conversion from a C to a S. However, that is unofficially not the case. they accept them. and i have just had sucess twice. they charge $100 per year that it is not timely, but they do accept them..
call them The are helpful. BTW.. this is not handled by the DOR, but rather the NJ Dept of Corps. go figure
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Abby Alhante
KURCIAS & ALHANTE, CPAs LLC
Woodbury NY
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Original Message:
Sent: 03-20-2015 09:24
From: Jay Haberman
Subject: NJ LLC
Client with a NJ LLC decided to opt to be taxed as an S Corp and was accepted as one with IRS. They neglected to do so for NJ, thinking NJ would accept the federal election (per NJ web site, they do not). So, now they are a federal S Corp and a New Jersey??????? Do we file NJ as a partnership, do we file it as a C corp? It seems the only thing for sure is that is not an S corp in NJ. Any ideas? Thanks!!
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Jay P. Haberman, CPA
998C Old Country Rd, PMB 422
Plainview, NY 11803
(516) 775-0175
jayh@cpa.com
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