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  • 1.  NJ partnership return

    Bronze Most Valuable Member
    Posted 02-25-2015 01:16 PM
    Edited by Paraskeve Gavalas 03-16-2023 02:03 AM

    This message has been cross posted to the following Discussions: NASSAUSUFFOLK and ncCPAp on the GO! .
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  • 2.  RE: NJ partnership return

    Posted 02-26-2015 08:10 AM
    No. The partnership is not doing business in NJ.  The NJ partner has to file a NYS IT-203 as a non-resident with NY source earnings.

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    M. Daniel Martin BA
    M. DANIEL MARTIN, CPA EA
    Babylon NY
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    Original Message


  • 3.  RE: NJ partnership return

    Platinum Most Valuable Member
    Posted 02-27-2015 01:27 PM
    The rules are clear on this. You have to file both a NY return and a NJ return. Under law, you must file a partnership return if the partnership has at least one resident partner.

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    Robert Brown
    ROBERT N. BROWN, CPA
    Jericho NY
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    Original Message


  • 4.  RE: NJ partnership return

    Posted 02-28-2015 09:35 AM

    i do not have that issue, but is it a New Jersey law?  If it is a Jersey law, how will they enforce it against a NYS business?  Is there not a constitutional issue?  What if the NJ partner is a passive investor?  Can PA force a NY partnership file in PA?

    After tax season, we will discuss.

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    M. Daniel Martin BA
    M. DANIEL MARTIN, CPA EA
    Babylon NY
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    Original Message


  • 5.  RE:NJ partnership return

    Bronze Most Valuable Member
    Posted 03-10-2015 12:51 AM
    Thank you for the response. Please respond to further discussion here. It's an interesting topic.

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    Vivian Gavalas, CPA
    Fine Point Accounting
    New York NY10018
    347-504-1040
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    Sent via Higher Logic Mobile



    Original Message


  • 6.  RE: NJ partnership return

    Platinum Most Valuable Member
    Posted 03-01-2015 05:28 PM

    Bob

    Is the only reason to file a NY (resident) partnership which only operates in and owns property in New York is so the NJ resident partner has the necessary "NJ K-1" information to report on their NJ individual income tax return on top of that NJ resident being required to file in NY on an IT-203 since he has earned income in New York?



  • 7.  RE: NJ partnership return

    Platinum Most Valuable Member
    Posted 03-10-2015 12:31 PM

    Dave:

     As the saying goes, "when all else fails, read the directions." There are certain states, merely by the fact that you have a partner who is a resident of that particular state, that require you to file. That is true for New York and New Jersey, so if you have a partner who is a resident of either state, you must file a partnership return, regardless of where they are registered or where they are doing business.

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    Robert Brown
    ROBERT N. BROWN, CPA
    Jericho NY
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    Original Message


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The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.