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BFC-150
STATE OF NEW JERSEY
CORPORATION BUSINESS TAX RETURN
FOR BANKING AND FINANCIAL CORPORATIONS
2020
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 2020
Instructions
Whomustfile Underpaymentofestimatedtax
Corporations whose accounting periods begin in Any taxpayer who is required to file a statement of
2020 and whose prior year tax liability is greater than estimated tax must file each estimate together with
$500 must make four 25% estimated tax payments remittance covering the estimated tax due on the
in the 4th, 6th, 9th and 12th months of its accounting required due date. Failure to remit such estimated
period towards the current year’s tax, except for cor- payment or making an underpayment of such tax or
porations with gross receipts of $50,000,000 or more any installment thereof, will result in the imposition
for the prior privilege period shall make installment of interest at an annual rate of three percent (3%)
payments as follows: 25% in the 4th month, 50% in above the average predominant prime rate for each
the 6th month and 25% in the 12th month. A corpora- month or fraction thereof that the underpayment ex-
tion whose prior year tax liability is $500 can, in lieu ists. The average predominant prime rate to be used
of making these estimated tax payments, make a sin- is the rate as determined by the Board of Governors
gle estimated tax payment of 50% of the prior year’s of the Federal Reserve System, quoted by commer-
tax liability. This option must be made and the 50% cial banks to large businesses on December 1st of
payment must be remitted no later than the original the calendar year immediately preceding the calen-
due date of the prior year’s tax return. dar year in which the payment was due or as rede-
termined by the Director in accordance with N.J.S.A.
Purpose 54:48-2. The average predominant prime rates will
be published periodically.
These forms are provided for your convenience for
remitting estimated tax payments on a current basis. In general, a taxpayer will be considered as having
underpaid if the total amount of the estimated tax
Howtodetermineyourestimatedtax payments for the taxable year are less than 90% of
the total tax liability reported on the current year’s
Computation of the estimated tax should be made
tax return and less than 100% of the total tax liability
on the basis of a full accounting period. Taxpayers
reported on the prior year’s tax return. The addition
should determine their expected liabilities on the
to the tax on any underpayment of any installment
basis of circumstances existing at the time prescribed
payment is computed on Form BFC-160 and must be
for filing. Use the Estimated Tax Worksheet for com-
paid with the return.
puting each installment due.
Whentofile
Estimatedtaxworksheet
For all fiscal year taxpayers, the appropriate due
A worksheet is provided to assist in computing the
dates applicable to each installment due can be
amounts of installment payments due for any tax-
found in the Calendar of Due Dates in this packet.
payer required to file a statement which has an
accounting year beginning after December 31, 2018. Wheretofile
OverpaymentcreditfromBFC-1 A statement of estimated tax shall be filed with the
State of New Jersey, Division of Taxation-BFC, Rev-
If the prior year’s return is overpaid and the taxpayer
enue Processing Center, PO Box 247, Trenton, NJ
elected to apply that overpayment as a credit to the
08646-0247.
current tax year, that credit may be applied to any
installment. Enter the amount of the overpayment on Electronicfundstransfers
line 2 of the Statement of Estimated Tax. However, if
the taxpayer elected to have any portion or all of the The Division of Revenue has established procedures
overpayment on the prior year’s return refunded, this to allow the remittance of tax payments through
amount may not be claimed as a credit. Electronic Funds Transfer (EFT). Taxpayers with a
prior year’s liability of $10,000 or more in any one tax
6. All taxpayers should enter the appropriate tax year are required to remit all tax payments using EFT. If
that the remittance should be credited to in the estimated tax payments are remitted using EFT, the
space provided on the front of the voucher. Fiscal BFC-150 vouchers should not be sent to the Division
year taxpayers must also enter the beginning and of Taxation. If you have any questions concerning the
ending dates of their accounting period in the space EFT program, call (609) 984-9830 or write to the Divi-
provided. sion of Revenue, EFT Section, PO Box 191, Trenton,
NJ 08646-0191.
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Specific Instructions For Completion Of Tax Vouchers
a. Figure your estimated tax for the current accounting e. Enter the overpayment from last year applied to the
year using the estimated tax worksheet on page 3 or voucher on Line 2.
page 4, whichever is applicable.
f. Subtract the overpayment credit (Line 2) from the
On the Voucher: amount of installment (Line 1) and enter the amount
b. Enter your full name, address, New Jersey serial on Line 3.
number and Federal Identification number.
g. Sign the bottom of the voucher.
c. Enter the appropriate tax year and accounting period
in the spaces provided. h Fill in the record of Estimated Tax Payment below the
worksheet.
NOTE: Please print your numbers like this:
0 1 2 3 4 5 6 7 8 9 i. Mail your statement of estimated tax along with your
check or money order to the State of New Jersey, Di-
d. Enter the amount shown on the line of the worksheet vision of Taxation-BFC, Revenue Processing Center,
applicable to that voucher on Line 1 of the voucher. PO Box 247, Trenton, New Jersey 08646-0247.
CALENDAR OF DUE DATES
ForYourCurrentTax INSTALLMENT DUE DATES*
YearEnded Voucher1 Voucher2 Voucher3 Voucher4
12/31/20 4/15/20 6/15/20 9/15/20 12/15/20
1/31/21 5/15/20 7/15/20 10/15/20 1/15/21
2/28/21 6/15/20 8/15/20 11/15/20 2/15/21
3/31/21 7/15/20 9/15/20 12/15/20 3/15/21
4/30/21 8/15/20 10/15/20 1/15/21 4/15/21
5/31/21 9/15/20 11/15/20 2/15/21 5/15/21
6/30/21 10/15/20 12/15/20 3/15/21 6/15/21
7/31/21 11/15/20 1/15/21 4/15/21 7/15/21
8/31/21 12/15/20 2/15/21 5/15/21 8/15/21
9/30/21 1/15/21 3/15/21 6/15/21 9/15/21
10/31/21 2/15/21 4/15/21 7/15/21 10/15/21
11/30/21 3/15/21 5/15/21 8/15/21 11/15/21
*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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EstimatedTaxWorksheetforCorporationsWithGrossReceipts
LessThan$50,000,000inthePriorPrivilegePeriod
(Keepforyourrecords)-DONOTFILE
1. Total Estimated Tax for the current taxable 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) & (c))
1
2
3
4
Total
AmendedComputation (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 instruction 5) .............
(b) Previous estimated tax payment(s)
made this year:
From Voucher 1 .....................................
From Voucher 2 .....................................
From Voucher 3 .....................................
(c) Total Lines 2(a) and 2(b) .........................................................................
3. Unpaid balance (Line 1 minus Line 2(c)) ...............................................................
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 2(c)) ...................
(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 4(a), 4(b) and 4(c) ............................................................
5. Subtract Line 4(d) from Line 3. (If result is not zero, review calculations) .............
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EstimatedTaxWorksheetforCorporationsWithGrossReceipts
of$50,000,000orMoreinthePriorPrivilegePeriod
(Keepforyourrecords)-DONOTFILE
1. Total Estimated Tax for the current taxable 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
AmendedComputation (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 instruction 5) ............
(b) Previous estimated tax payment(s)
made this year:
From Voucher 1 .....................................
From Voucher 2 .....................................
(c) Total Lines 2(a) and 2(b) .........................................................................
3. Unpaid balance (Line 1 minus Line 2(c)) ...............................................................
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 2(c)) ...................
(b) On Voucher 4 – 100% of amended
estimated tax (Line 1) less payments
made .....................................................
(c) Total of Lines 4(a) and 4(b) ....................................................................
5. Subtract Line 4(c) from Line 3. (If result is not zero, review calculations) .............
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StateofNewJersey
CorporationBusinessTaxReturn
forBankingandFinancialCorporations
BFC-150 StatementofEstimatedTax
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
ComputationofEstimatedTax
Any taxpayer required to file a return which has an accounting year that begins in 2020 and has a tax liability of $500or
morefortheprioryear 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 instruction 7.
1. Amount of this installment payment.................................................................................. 1.
2. Amount of overpayment credit (See Instruction 5) ........................................................... 2.
Amount of this installment payment
3. (line 1 minus line 2) .....................................................Paythisamount .......................... 3.
RemittancetocoverthefullamountofpaymentdueonLine3mustaccompanythisstatement.
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
SignatureandVerification
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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StatementofEstimatedTax
StatementofEstimatedTax–4 Calendaryeardue– April15,2020
StatementofEstimatedTax–6 Calendaryeardue–June15,2020
StatementofEstimatedTax–9 Calendaryeardue–September15,2020
StatementofEstimatedTax–12 Calendaryeardue–December15,2020
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StateofNewJersey
CorporationBusinessTaxReturn
forBankingandFinancialCorporations
BFC-150 StatementofEstimatedTax
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
ComputationofEstimatedTax
Any taxpayer required to file a return which has an accounting year that begins in 2020 and has a tax liability of $500or
morefortheprioryear 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 instruction 7.
1. Amount of this installment payment.................................................................................. 1.
2. Amount of overpayment credit (See Instruction 5) ........................................................... 2.
Amount of this installment payment
3. (line 1 minus line 2) .....................................................Paythisamount .......................... 3.
RemittancetocoverthefullamountofpaymentdueonLine3mustaccompanythisstatement.
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
SignatureandVerification
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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StatementofEstimatedTax
StatementofEstimatedTax–4 Calendaryeardue– April15,2020
StatementofEstimatedTax–6 Calendaryeardue–June15,2020
StatementofEstimatedTax–9 Calendaryeardue–September15,2020
StatementofEstimatedTax–12 Calendaryeardue–December15,2020
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StateofNewJersey
CorporationBusinessTaxReturn
forBankingandFinancialCorporations
BFC-150 StatementofEstimatedTax
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
ComputationofEstimatedTax
Any taxpayer required to file a return which has an accounting year that begins in 2020 and has a tax liability of $500or
morefortheprioryear 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 instruction 7.
1. Amount of this installment payment.................................................................................. 1.
2. Amount of overpayment credit (See Instruction 5) ........................................................... 2.
Amount of this installment payment
3. (line 1 minus line 2) .....................................................Paythisamount .......................... 3.
RemittancetocoverthefullamountofpaymentdueonLine3mustaccompanythisstatement.
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
SignatureandVerification
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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StatementofEstimatedTax
StatementofEstimatedTax–4 Calendaryeardue– April15,2020
StatementofEstimatedTax–6 Calendaryeardue–June15,2020
StatementofEstimatedTax–9 Calendaryeardue–September15,2020
StatementofEstimatedTax–12 Calendaryeardue–December15,2020
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StateofNewJersey
CorporationBusinessTaxReturn
forBankingandFinancialCorporations
BFC-150 StatementofEstimatedTax
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
ComputationofEstimatedTax
Any taxpayer required to file a return which has an accounting year that begins in 2019 and has a tax liability of $500or
morefortheprioryear 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 instruction 7.
1. Amount of this installment payment.................................................................................. 1.
2. Amount of overpayment credit (See Instruction 5) ........................................................... 2.
Amount of this installment payment
3. (line 1 minus line 2) .....................................................Paythisamount .......................... 3.
RemittancetocoverthefullamountofpaymentdueonLine3mustaccompanythisstatement.
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
SignatureandVerification
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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StatementofEstimatedTax
StatementofEstimatedTax–4 Calendaryeardue– April15,2020
StatementofEstimatedTax–6 Calendaryeardue–June15,2020
StatementofEstimatedTax–9 Calendaryeardue–September15,2020
StatementofEstimatedTax–12 Calendaryeardue–December15,2020
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