Mikef
Level 1
2 weeks ago
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NJ Pass through tax. What is available in Lacerte??
3 Replies 3
BobKamman
Level 12
2 weeks ago
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That BAIT Tax sure sounded like a can of worms. So I looked it up and it seems that New Jersey has a new way to tax "Pass Through Entities" with a "Business Alternatives Income Tax." Makes me glad I live in a state where I can pump my own gas. I'm sure the OP knows more about it than I do, and I don't use Lacerte so I don't know how they are handling it. However, for others here who may be interested, here is the state's FAQ:
https://www.state.nj.us/treasury/taxation/baitpte-faq.shtml
George4Tacks
Level 15
2 weeks ago
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Are you preparing the entity? If so what type?
Or are you entering a K-1 into the Individual tax?
ex-AllStar
Mikef
Level 1
2 weeks ago
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I preparing the entity. Do not see the form PTE-100 although I can Efile it.