The New Jersey Division of Taxation has issued updated guidance related to the Form CBT-100S. An update for ProSeries was released on March 1, 2024 to conform with this new guidance.
It has come to the New Jersey Division's attention that there is a mistake on the originally released version of Form CBT-100S. The reference for Schedule K, Part III, Line 7 should be Page 1, Line 2a minus Line 3 (Instead of Page 1, Line 4 as recorded on the originally released version of the form).
Preparers should review their returns to ensure that they've properly reported the Corporation Business Tax on Schedule K, Part III, Line 7.
If an incorrect amount was reported, an amended return is required.
New Jersey Division of Taxation: https://www.nj.gov/treasury/taxation/cbt/23schedulek.shtml
