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                                            BFC-150 

     State of New Jersey

     Corporation Business Tax Return  

     for Banking and Financial Corporations

                2021

     Statement of Estimated Tax
     C. 184 P.L. 1981
     Approved June 19, 1981

                   Contents

     • Instructions
     • Worksheet
     • Calendar of Due Dates
     • Four Statements of Estimated Tax

Note:
We do not send reminder notices for the estimated tax installment payments. Payment must 
accompany the remittance statement when due.

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BFC-150 2021

Instructions

Who Must File underpayment exists. The average predominant prime
Corporations whose accounting periods begin in 2021 rate to be used is the rate as determined by the Board
and whose prior year tax liability is greater than $500 of Governors of the Federal Reserve System, quoted by
must make four 25% estimated tax payments in the 4th, commercial banks to large businesses on December 1st
6th, 9th, and 12th months of its accounting period to- of the calendar year immediately preceding the calendar
wards the current year’s tax, except for corporations with year in which the payment was due or as redetermined
gross receipts of $50 million or more for the prior privi- by the Director in accordance with N.J.S.A. 54:48-2. The
lege period shall make installment payments as follows: interest rates assessed by the Division of Taxation are
25% in the 4th month, 50% in the 6th month and 25% published on the Division’s website.
in the 12th month. A corporation whose prior year tax
liability is $500 can, in lieu of making these estimated tax In general, a taxpayer will be considered as having un-
payments, make a single estimated tax payment of 50% derpaid if the total amount of the estimated tax payments
of the prior year’s tax liability. This option must be made for the taxable year are less than 90% of the total tax
and the 50% payment must be remitted no later than the liability reported on the current year’s tax return and less
original due date of the prior year’s tax return. than 100% of the total tax liability reported on the prior
year’s tax return. The addition to the tax on any under-
payment of any installment payment is computed on
How to Determine Your Estimated Tax
Computation of the estimated tax should be made on the Form BFC-160 and must be paid with the return.
basis of a full accounting period. Taxpayers should de-
termine their expected liabilities on the basis of circum- When to File
stances existing at the time prescribed for filing. Use the For all fiscal year taxpayers, the appropriate due dates
Estimated Tax Worksheet for computing each installment applicable to each installment due can be found in the
due. Calendar of Due Dates on page 2.

Estimated Tax Worksheet Where to File
A worksheet is provided to assist in computing the A statement of estimated tax shall be filed with the State
amounts of installment payments due for any taxpayer of New Jersey, Division of Taxation-BFC, Revenue Pro-
required to file a statement. cessing Center, PO Box 247, Trenton, NJ 08646-0247.

Overpayment Credit From BFC-1 Electronic Funds Transfers
If the prior year’s return is overpaid and the taxpayer The Division of Revenue has established procedures to
elected to apply that overpayment as a credit to the allow the remittance of tax payments through Electronic
current tax year, that credit may be applied to any install- Funds Transfer (EFT). Taxpayers with a prior year’s
ment. Enter the amount of the overpayment on line 2 of liability of $10,000 or more in any one tax are required
the Statement of Estimated Tax. However, if the taxpayer to remit all tax payments using EFT. If estimated tax
elected to have any portion or all of the overpayment on payments are remitted using EFT, the BFC-150 vouch-
the prior year’s return refunded, this amount cannot be ers should not be sent to the Division of Taxation. If you
claimed as a credit. have any questions concerning the EFT program, call
(609) 984-9830 or write to the Division of Revenue, EFT
Section, PO Box 191, Trenton, NJ 08646-0191.
Calendar Year and Fiscal Year Taxpayers
All taxpayers should enter the appropriate tax year that
the remittance should be credited to in the space pro- Completion Of Tax Vouchers
vided on the front of the voucher. Fiscal year taxpayers Figure your estimated tax for the current accounting year
must also enter the beginning and ending dates of their using the estimated tax worksheet on page 3 or page 4,
accounting period in the space provided. whichever is applicable.

On the Voucher:
Underpayment of Estimated Tax
Any taxpayer who is required to file a statement of es- 1. Enter your full name, address, New Jersey serial
timated tax must file each estimate together with remit- number and federal identification number.
tance covering the estimated tax due on the required 2. Enter the appropriate tax year and accounting period
due date. Failure to remit such estimated payment or in the spaces provided.
making an underpayment of such tax or any install-
ment thereof, will result in the imposition of interest at Note: Print numbers like this:
an annual rate of 3% above the average predominant 0 1 2 3 4 5 6 7 8 9
prime rate for each month or part of a month that the
1

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3. Enter the amount shown on the line of the worksheet 6. Sign the bottom of the voucher.
applicable to that voucher on line 1 of the voucher.
7. Fill in the record of Estimated Tax Payment below the
4. Enter the overpayment from last year applied to the worksheet.
voucher on line 2.
8. Mail your statement of estimated tax along with your
5. Subtract the overpayment credit (line 2) from the check or money order to the State of New Jersey, Di-
amount of installment (line 1) and enter the amount vision of Taxation – BFC, Revenue Processing Cen-
on line 3. ter, PO Box 247, Trenton, New Jersey 08646-0247.

Calendar of Due Dates*
For Your Current Tax Installment Due Dates
Year Ended Voucher 1 Voucher 2 Voucher 3 Voucher 4
12/31/21 4/15/21 6/15/21 9/15/21 12/15/21
1/31/22 5/15/21 7/15/21 10/15/21 1/15/22
2/28/22 6/15/21 8/15/21 11/15/21 2/15/22
3/31/22 7/15/21 9/15/21 12/15/21 3/15/22
4/30/22 8/15/21 10/15/21 1/15/22 4/15/22
5/31/22 9/15/21 11/15/21 2/15/22 5/15/22
6/30/22 10/15/21 12/15/21 3/15/22 6/15/22
7/31/22 11/15/21 1/15/22 4/15/22 7/15/22
8/31/22 12/15/21 2/15/22 5/15/22 8/15/22
9/30/22 1/15/22 3/15/22 6/15/22 9/15/22
10/31/22 2/15/22 4/15/22 7/15/22 10/15/22
11/30/22 3/15/22 5/15/22 8/15/22 11/15/22
*When any date falls on a Saturday, Sunday, or legal holiday, substitute the next regular workday.

AMOUNT OF INSTALLMENTS DUE - For corporations with gross receipts less than $50,000,000 in the prior privilege
period, a 25% installment payment of the current accounting year’s estimated tax liability must be submitted with each of
the four vouchers on or before the 15th day of the 4th, 6th, 9th and 12th months of that year. For corporations with gross
receipts of $50,000,000 or more for the prior privilege period, estimated payment should be made as follows: a 25%
installment in the 4th month, a 50% installment in the 6th month and a 25% installment in the 12th month. If any due date
prescribed for filing these vouchers falls on a Saturday, Sunday or a legal holiday recognized by the State of New Jersey,
the next succeeding business day will be considered the due date.

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        Estimated Tax Worksheet for Corporations With Gross Receipts
                  Less Than $50,000,000 in the Prior Privilege Period
                       (Keep for your records – DO NOT FILE)

1. Total estimated tax for the current tax year .......................................................          1.

2. Voucher 1 due (enter 25% of line 1) ..................................................................        2.

3. Voucher 2 due (enter 25% of line 1) ..................................................................        3.

4. Voucher 3 due (enter 25% of line 1) ..................................................................        4.

5. Voucher 4 due (enter 25% of line 1) ..................................................................        5.

                       Record of Estimated Tax Payments
                                                                   (c)                                             (d)
Voucher (a)            (b)
                                                                  Overpayment Credit From                        Total Amount Paid and Credited For 
Number  Date           Amount
                                                                  Last Year’s Return                               This Installment (Add (b) and (c))
1
2
3
4
             Total
Amended Computation (Use if your estimated tax changes after you have filed one or more estimated tax vouchers.)

1. Enter the amended estimated tax.........................................................................
2. Less  (a) Amount of overpayment credit from last 
        year’s return (see instructions) ..............
        (b) Previous estimated tax payment(s) 
        made this year:

        From Voucher 1 .....................................

        From Voucher 2 .....................................

        From Voucher 3 .....................................

        (c) Total lines 2a and 2b ...............................................................................

3. Unpaid balance (subtract line 2c from line 1) ........................................................

4. Unpaid balance to be paid as follows:
         (a) On Voucher 2 if unused – 50% of 
        amended estimated tax (line 1) less 
        payments made (line 2c) .......................
         (b) On Voucher 3 if unused – 75% of 
        amended estimated tax (line 1) less 
        payments made ....................................
         (c) On Voucher 4 – 100% of amended 
        estimated tax (line 1) less payments 
        made .....................................................

         (d) Total of lines 4a, 4b, and 4c ...................................................................

5. Subtract line 4d from line 3. (If result is not zero, review calculations) ..................

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        Estimated Tax Worksheet for Corporations With Gross Receipts
                  of $50,000,000 or More in the Prior Privilege Period
                       (Keep for your records – DO NOT FILE)

1. Total estimated tax for the current tax year ......................................................           1.

2. Voucher 1 due (enter 25% of line 1) .................................................................         2.

3. Voucher 2 due (enter 50% of line 1) .................................................................         3.

4. Voucher 4 due (enter 25% of line 1) .................................................................         4.

                       Record of Estimated Tax Payments
                                                                   (c)                                             (d)
Voucher (a)            (b)
                                                                  Overpayment Credit From                        Total Amount Paid and Credited For 
Number  Date           Amount
                                                                  Last Year’s Return                               This Installment (Add (b) & (c))
1
2
4
             Total
Amended Computation (Use if your estimated tax changes after you have filed one or more estimated tax vouchers.)

1. Enter the amended estimated tax.........................................................................
2. Less  (a) Amount of overpayment credit from last 
        year’s return (see instructions) ..............
        (b) Previous estimated tax payment(s) 
        made this year:

        From Voucher 1 .....................................

        From Voucher 2 .....................................

        (c) Total lines 2a and 2b ...............................................................................

3. Unpaid balance (subtract line 2c from line 1) ........................................................

4. Unpaid balance to be paid as follows:
         (a) On Voucher 2 if unused – 75% of 
        amended estimated tax (line 1) less 
        payments made (line 2c) .......................
         (b) On Voucher 4 – 100% of amended 
        estimated tax (line 1) less payments 
        made .....................................................

         (c) Total of lines 4a and 4b ..........................................................................

5. Subtract line 4c from line 3. (If result is not zero, review calculations) ..................

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State of New Jersey
Corporation Business Tax Return
for Banking and Financial Corporations
BFC-150 Statement of Estimated Tax
For Tax Year

For accounting period beginning , , and ending ,
Federal Employer ID Number NJ Corporation Number State and Date of Inc. Fiscal Year

Corporation Name FOR OFFICIAL USE ONLY

Mailing Address D F

City State ZIP Code
4

Check One: Banking Corporation Financial Corporation

Computation of Estimated Tax
Any taxpayer required to file a return which has an accounting year that begins in 2021 and has a tax liability of $500 or
more for the prior year must file a Statement of Estimated Tax.
Computation of the Estimated Tax should be made on the basis of a full accounting period. Taxpayers should determine
their expected liabilities on the basis of the circumstances existing at the time prescribed for filing this statement.
WARNING: Interest is assessed for underestimation of tax. See instructions.

1. Amount of this installment payment.................................................................................. 1.

2. Amount of overpayment credit (See instructions)............................................................. 2.
3. Amount of this installment payment
(subtract line 2 from line 1) ..........................................Pay this amount.......................... 3.

Remittance to cover the full amount of payment due on line 3 must accompany this statement.
Make check or money order payable: State of New Jersey – BFC

Mail to: State of New Jersey
Division of Taxation – BFC
Revenue Processing Center
PO Box 247
Trenton, NJ 08646-0247

Signature and Verification
I declare under the penalties provided by law, that this statement has been examined by me and to the best of my
knowledge and belief is a true, correct and complete return. If the return is prepared by a person other than the
taxpayer, his declaration is based on all the information relating to the matters required to be reported in the return of
which he has knowledge.

Date Signature of Duly Authorized Officer of Taxpayer Title

Date Signature of Individual or Firm Preparing Return Address Preparer’s ID Number

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Statement of Estimated Tax

Statement of Estimated Tax – 4  Calendar year due – April 15, 2021

Statement of Estimated Tax – 6  Calendar year due – June 15, 2021

Statement of Estimated Tax – 9  Calendar year due – September 15, 2021

Statement of Estimated Tax – 12 Calendar year due – December 15, 2021

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State of New Jersey
Corporation Business Tax Return
for Banking and Financial Corporations
BFC-150 Statement of Estimated Tax
For Tax Year

For accounting period beginning , , and ending ,
Federal Employer ID Number NJ Corporation Number State and Date of INC. Fiscal Year

Corporation Name FOR OFFICIAL USE ONLY

Mailing Address D F

City State ZIP Code
6

Check One: Banking Corporation Financial Corporation

1. Amount of this installment payment.................................................................................. 1.

Remittance to cover the full amount of payment due on line 3 must accompany this statement.
Make check or money order payable: State of New Jersey – BFC

Mail to: State of New Jersey
Division of Taxation – BFC
Revenue Processing Center
PO Box 247
Trenton, NJ 08646-0247

Date Signature of Duly Authorized Officer of Taxpayer Title

Date Signature of Individual or Firm Preparing Return Address Preparer’s ID Number

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Statement of Estimated Tax

Statement of Estimated Tax – 4  Calendar year due – April 15, 2021

Statement of Estimated Tax – 6  Calendar year due – June 15, 2021

Statement of Estimated Tax – 9  Calendar year due – September 15, 2021

Statement of Estimated Tax – 12 Calendar year due – December 15, 2021

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State of New Jersey
Corporation Business Tax Return
for Banking and Financial Corporations
BFC-150 Statement of Estimated Tax
For Tax Year

For accounting period beginning , , and ending ,
Federal Employer ID Number NJ Corporation Number State and Date of INC. Fiscal Year

Corporation Name FOR OFFICIAL USE ONLY

Mailing Address D F

City State ZIP Code
9

Check One: Banking Corporation Financial Corporation

1. Amount of this installment payment.................................................................................. 1.

Remittance to cover the full amount of payment due on line 3 must accompany this statement.
Make check or money order payable: State of New Jersey – BFC

Mail to: State of New Jersey
Division of Taxation – BFC
Revenue Processing Center
PO Box 247
Trenton, NJ 08646-0247

Date Signature of Duly Authorized Officer of Taxpayer Title

Date Signature of Individual or Firm Preparing Return Address Preparer’s ID Number

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Statement of Estimated Tax

Statement of Estimated Tax – 4  Calendar year due – April 15, 2021

Statement of Estimated Tax – 6  Calendar year due – June 15, 2021

Statement of Estimated Tax – 9  Calendar year due – September 15, 2021

Statement of Estimated Tax – 12 Calendar year due – December 15, 2021

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State of New Jersey
Corporation Business Tax Return
for Banking and Financial Corporations
BFC-150 Statement of Estimated Tax
For Tax Year

For accounting period beginning , , and ending ,
Federal Employer ID Number NJ Corporation Number State and Date of INC. Fiscal Year

Corporation Name FOR OFFICIAL USE ONLY

Mailing Address D F

City State ZIP Code
12

Check One: Banking Corporation Financial Corporation

1. Amount of this installment payment.................................................................................. 1.

Remittance to cover the full amount of payment due on line 3 must accompany this statement.
Make check or money order payable: State of New Jersey – BFC

Mail to: State of New Jersey
Division of Taxation – BFC
Revenue Processing Center
PO Box 247
Trenton, NJ 08646-0247

Date Signature of Duly Authorized Officer of Taxpayer Title

Date Signature of Individual or Firm Preparing Return Address Preparer’s ID Number

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Statement of Estimated Tax

Statement of Estimated Tax – 4  Calendar year due – April 15, 2021

Statement of Estimated Tax – 6  Calendar year due – June 15, 2021

Statement of Estimated Tax – 9  Calendar year due – September 15, 2021

Statement of Estimated Tax – 12 Calendar year due – December 15, 2021

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