2022 NJ-CBT-1065 
                                                          Instructions
                                                             Partner means any owner of a partnership interest.
GIT and CBT Partnership Returns
The Division has two partnership tax returns: Forms 
                                                             Nonresident Noncorporate Partner means an individ-
NJ-1065 and NJ-CBT-1065. The Gross Income Tax Act 
                                                             ual, an estate, or a trust subject to taxation pursuant to 
(GIT) at N.J.S.A. 54A:8-6 requires entities classified as 
                                                             the New Jersey Gross Income Tax Act that is not a resi-
a partnership for federal income tax purposes having 
                                                             dent taxpayer or a resident estate or trust under that Act.
a resident owner or income derived from New Jersey 
sources to file a Gross Income Tax return, NJ-1065. 
Partnerships with more than two owners and income or         Nonresident Corporate Partner means a partner that is 
                                                             not an individual, an estate, or a trust subject to taxation 
loss from New Jersey sources may also be subject to 
                                                             pursuant to the New Jersey Gross Income Tax Act, that 
a filing fee. The fee is calculated and reported on the 
                                                             is not a corporation exempt from tax pursuant to N.J.S.A. 
NJ-1065.
                                                             54:10A-3, and that does not maintain a regular place of 
The Corporation Business Tax Act (CBT) at N.J.S.A.           business in this State other than a statutory office.
54:10A-15.11 imposes a tax on certain partnerships that 
have nonresident owners. Partnerships subject to the         Qualified Investment Partnership means a partner-
                                                             ship that has more than 10 members or partners with 
CBT tax must file the NJ-CBT-1065. The separate forms 
                                                             no member or partner owning more than a 50% interest 
help distinguish the differences that exist between the 
                                                             in the entity and that derives at least 90% of its gross 
Gross Income Tax and Corporation Business Tax Acts.
                                                             income from dividends, interest, payments with respect 
The filing fee is reported directly on the NJ-1065. The      to securities, loans, and gains from the sale or other dis-
GIT filing fee is remitted with the Partnership Payment      position of stocks or securities or foreign currencies or 
Voucher (NJ-1065-V). If the entity is also required to       commodities or other similar income (including but not 
calculate and report Corporation Business Tax, the entity    limited to gains from swaps, options, futures, or forward 
must complete and file the NJ-CBT-1065. If the entity        contracts) derived with respect to its business of invest-
has a CBT balance due, it is remitted with the Corpo-        ing or trading in those stocks, securities, currencies, 
ration Business Tax–Partnership Payment Voucher              or commodities, but “investment partnership” does not 
(NJ-CBT-V).                                                  include a “dealer in securities” within the meaning of sec-
                                                             tion 1236 of the federal Internal Revenue Code of 1986.
Partnerships that are members of an entity electing to 
pay the Pass-Through Business Alternative Income Tax         Hedge Fund Status is met for New Jersey tax purposes 
and that choose to apply the credit for their share of the   if the investment entity’s only activity is the purchase, 
tax to their nonresident partners tax must claim the credit  holding, or sale of intangible personal property, such as 
on the NJ-CBT-1065.                                          commodities or securities, and such intangible personal 
                                                             property is not held for sale to customers as defined at 
                                                             N.J.S.A. 54A:5-8c. A partnership that qualifies for hedge 
General Instructions                                         fund status in one year may not meet the requirements 
                                                             every year. The entity must evaluate its situation on a 
Definitions
                                                             yearly basis. The entity, not the partner, must make the 
Partnership, for tax purposes, means and includes a 
                                                             determination.
syndicate, group, pool, joint venture, and any other un-
incorporated organization through or by means of which 
any business, financial operation, or venture is carried     Investment Clubs are usually small groups of individ-
                                                             uals who pool their money to invest in stock or other 
on and that is not a corporation, trust, or estate within 
                                                             securities. The group usually operates informally with 
the meaning of the New Jersey Gross Income Tax Act. 
                                                             members pledging to pay a regular amount into the club 
Only entities that qualify for and elect to be treated as a 
                                                             monthly. Some clubs have a committee that gathers 
partnership for federal tax purposes (for example, limited 
                                                             information on securities, selects the most promising se-
liability companies and limited liability partnerships) are 
                                                             curities, and recommends that the clubs invest in them. 
treated as partnerships under the New Jersey Gross In-
                                                             Most clubs require all members to vote for or against all 
come Tax Act.
                                                             investments, sales, trades, and the other transactions.
“Tiered” Partnerships are arrangements in which one 
                                                             Investment clubs recognize as their main source of in-
partnership, the upper-tier or “parent” partnership, is a 
                                                             come interest, dividends, and gains on disposition of 
member of, or holds an ownership interest in, another 
                                                             their stock and securities and usually meet hedge fund 
partnership (called the lower-tier or “subsidiary” partner-
                                                             status. Investment clubs generally are not considered 
ship). Tiered partnerships must complete Schedule A, 
                                                             a business. An investment club is required to file Form 
NJ-1065 before completing lines 1 through 11 on the 
                                                             NJ-1065 but is not entitled to deduct any expenses 
front of the NJ-1065. 
                                                             (unless it rises to the level of being in business). The 

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member or partner of the investment club will report their    What to File
share of the investment club’s income or loss as distribu-    The following forms and statements must be included 
tive share of partnership income.                             with the NJ-CBT-1065:
If an investment club meets the following criteria, it will   • Schedule T, Tiered Partnership Payment Schedule, 
be exempt from the $150 per owner annual partnership            if the entity is claiming (1) credit for tax remitted on 
filing fee and from the requirement that a partnership          its behalf by another entity or (2) its share of Pass-
make payments on behalf of its nonresident owners.              Through Business Alternative Income Tax. The Name, 
The investment club must be an entity that is classified        Federal EIN, Share of New Jersey Tax reported on 
as a partnership for federal income tax purposes, all of        line 1 of Part III of each Schedule NJK-1, and Share 
the owners are individuals, and all of the assets are se-       of Pass-Through Business Alternative Income Tax re-
curities, cash, or cash equivalents. The market value of        ported on each Schedule PTE-K-1 must be reported. 
the total assets of the investment club cannot exceed,          Failure to complete Schedule T in its entirety may re-
as measured on the last day of its privilege period, an         sult in no credit.
amount equal to the lesser of $384,900 or $53,900 per         • Schedule CBT-160-P, Underpayment of Estimated NJ 
owner of the entity. The investment club is not required        Partnership Tax, must be included if the entity calcu-
to register itself or its membership interests with the fed-    lated an interest charge on an underpayment of in-
eral Securities and Exchange Commission.                        stallment payments or an exception to the imposition 
                                                                of interest.
Who Must File
Every partnership that has income or loss derived from        The Division may require that the complete federal 
sources in the State of New Jersey, or has any type of        Form 1065, including all schedules and supporting at-
New Jersey resident partner, must file Form NJ-1065.          tachments, and any other documentation or information 
Form NJ-CBT-1065 must be filed when the entity is re-         deemed necessary be submitted during the course of an 
quired to calculate a tax on its nonresident partner(s).      audit.
Partners subject to the Gross Income or Corporation 
Business Taxes still must report and pay tax on their         If at any time during the course of an audit the Division 
share of partnership income or loss.                          deems it necessary, the partnership must make an 
                                                              NJ-1065E available for all applicable partners.
How to File
Electronic Filing Mandate                                     When to File
Partnerships subject to the provisions of the Corpora-        Returns for Calendar Year 2022 are due April 18, 2023. 
tion Business Tax Act (that is partnerships that remit tax    Fiscal year returns are due the 15th day of the fourth 
based on any nonresident corporate and nonresident            month after the end of the tax year.
noncorporate partner’s allocable share of NJ partner-
ship income) that utilize the services of a paid preparer     Any short period return must be filed by the due date of 
must file all their returns completed by that practitioner    the federal Form 1065. The partnership should use the 
by electronic means. Payments of the partnership lia-         most current form available from the Division of Taxation.
bilities along with the submission of payment-related 
                                                              Postmark Date. All New Jersey Income Tax returns 
returns (PART-200-T and CBT-206) must also be made 
                                                              postmarked on or before the due date of the return are 
electronically either by the partnership or by a paid tax 
                                                              considered to be filed on time. Returns postmarked af-
practitioner.
                                                              ter the due date are deemed to be late. The filing date 
In addition, partnerships with 10 or more partners must       for a late return is the day the return is received by the 
file all returns electronically regardless of whether or      Division, not the postmark date.
not they utilize the services of a paid tax preparer. 
To obtain the electronic filing and payment formats           Where to File
or to obtain additional information on electronic filing      Mail your completed NJ-CBT-1065 to:
and payment options, visit the New Jersey Division of           NJ Division of Taxation
Revenue and Enterprise Services’ website at www.                Revenue Processing Center 
nj.gov/treasury/revenue/partnerships.shtml or email             PO Box 194
the Division of Revenue and Enterprise Services at              Trenton NJ 08646-0194
e-GovServices@treas.nj.gov.
                                                              Mail your completed CBT-206 to:
NJ-1065 filers that do not use the services of a paid tax       NJ Division of Taxation
preparer and who have less than 10 partners have the            Revenue Processing Center 
option to file by electronic means or on paper.                 Extension of Time to File NJ-CBT-1065
                                                                PO Box 642
                                                                Trenton NJ 08646

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Mail your completed NJ-CBT-V to:                                Estimated Payments
NJ Division of Taxation                                         Partnerships are required to make installment payments 
Revenue Processing Center                                       of estimated tax. Partnerships that are subject to tax 
Corporation Business Tax – Nonresident Partner Tax              payments must make installment payments of 25% of 
PO Box 642                                                      that tax on or before the 15th day of each of the fourth, 
Trenton NJ 08646                                                sixth, and ninth months of the privilege period and on or 
                                                                before the 15th day of the first month after the close of 
Note: Do not attach the NJ-CBT-V to or mail with                the privilege period.
your NJ-CBT-1065.
                                                                Estimated payments must be filed and paid electroni-
Extension of Time to File                                       cally. To file and pay electronically, visit the Division’s 
If a five-month extension is obtained for filing federal        website.
Form 1065, then an automatic five-month extension 
is granted for submitting your NJ-CBT-1065. A copy              Partnerships are not to file the CBT-150, Corporation 
of your application for federal extension, federal Form         Business Tax Statement of Estimated Tax. The CBT-150 
7004, must be filed with your New Jersey return. Check          is a Corporation Business Tax form, not a partnership 
the box labeled “Application for Federal Extension is at-       form. 
tached” on the front of your NJ-CBT-1065. If you did not 
obtain a federal extension and you need more time to            Accounting Method
file your NJ-CBT-1065, federal Form 7004 must be sub-           A partnership’s accounting method(s) used for the 
mitted as your request to New Jersey on or before the           NJ-1065 must be the same as the accounting meth-
original due date of the return.                                ods(s) used for federal Form 1065.

In addition, any partnership that has a tax due must file a 
                                                                Accounting Periods
CBT-206, Partnership Application for Extension of Time          The 2022 NJ-1065 should be used for Calendar Year 
to File NJ-CBT-1065. The applicable payment must ac-            2022 or for a fiscal year that began in 2022. If filing for 
company this form. Your CBT-206 must be postmarked              a fiscal year or a short tax year, enter at the top of your 
on or before the original due date of the return. See spe-      NJ-CBT-1065 the month and day the tax year began, 
cific instructions found on back of the CBT-206.                and the month, day, and year that it ended. The part-
                                                                nership’s tax year for New Jersey Income Tax purposes 
There is no extension of time to pay the tax due. Penal-
                                                                must be the same as its tax year for federal income tax 
ties and interest are imposed whenever the tax is paid 
                                                                purposes.
after the original due date.

A five-month extension of time to file your NJ-CBT-1065         Forms and Assistance
may be granted if at least 90% of the total tax reported        To get New Jersey tax forms:
on your NJ-CBT-1065 when filed is paid in the form of           •  Visit our website at nj.gov/taxation 
a tiered partnership payment, estimated payment(s), or 
other payment(s) made by the original due date.                 •  Write to: 
                                                                 NJ Division of Taxation  
An extension of time to file the NJ-CBT-1065 does                Taxpayer Form Services 
not extend the time for filing the tax returns of the            PO Box 269 
partners.                                                        Trenton NJ 08695-0269
                                                                Assistance from a Division representative is available 
Time Limits for Assessing Additional Tax                        by contacting the Division’s Customer Service Center at 
Partnerships that are required to file an NJ-CBT-1065           (609) 292-6400.
are subject to owing a nonresident partner tax. The 
nonresident partner tax is subject to the Corporation 
Business Tax Act. The Corporation Business Tax Act has          Electronic Filing Assistance
                                                                For electronic filing assistance:
a four-year statute of limitations (time allowed by law) 
for the Division of Taxation to send a bill. The Division       •  Call the Division of Revenue and Enterprise Services’ 
generally has four years from the date the entity filed its      Call Center at (609) 292-9292
partnership return or the original due date of the return, 
                                                                •  Download the needed formats from the New Jersey 
whichever is later, to send the entity a bill for additional 
                                                                 Division of Revenue and Enterprise Services’ website 
nonresident partner tax. There is no time limit if the en-
                                                                 at: www.nj.gov/treasury/revenue
tity did not file a partnership return, or if the entity filed 
a false or fraudulent return with the intent to evade tax. 
The time limit may be extended in certain circumstances.

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Amended Return or Federal Change                                 month or part of a month the return is late may also be 
An amended NJ-CBT-1065 must be filed if an amended               imposed.
federal Form 1065 is filed, or if the Internal Revenue 
Service changes or corrects any item of income, gain,            Late Payment Penalty. 5% of the outstanding tax bal-
or loss previously reported. The amended New Jer-                ance may be imposed.
sey return must be filed within 30 days of the date the 
amended federal Form 1065 is filed or, in the case               Interest. 3% above the prime rate for every month or 
                                                                 part of a month the tax is unpaid, compounded annually.  
of a federal audit, within 90 days after the final deter-
                                                                 At the end of each calendar year, any tax, penalties, 
mination of the change. When an amendment to the 
                                                                 and interest remaining due (unpaid) will become part of 
NJ-CBT-1065 results in a need to amend the Schedules 
                                                                 the balance on which interest is charged. See Technical 
NJK-1, an amended Schedule NJK-1 must be forwarded 
                                                                 Bulletin TB-21(R) for current and previous years’ interest 
to the Division of Taxation and to each partner.
                                                                 rates.
An amended NJ-CBT-1065 and an amended Schedule 
NJK-1 for each partner must also be filed to correct any         Fraudulent Returns
error on or reflect any change to the original NJ-1065,          Any person who deliberately fails to file a return, files 
whether or not an amended federal Form 1065 was filed            a fraudulent return, or attempts to evade the tax in any 
for that year.                                                   way may be liable for a penalty up to $7,500 or imprison-
                                                                 ment for three to five years, or both.
To amend your original NJ-CBT-1065, get a blank 
NJ-CBT-1065 for the tax year that is to be amended,              Rounding Off to Whole Dollars
and check the “Amended Return” box on the front of the           Money items on the return and schedules can be shown 
form. Complete the form, entering the corrected informa-         in whole dollars (eliminate amounts under 50 cents; en-
tion, and attach an explanation of the changes. Entities         ter amounts of 50 cents or more as the next higher dollar 
subject to the Electronic Filing Mandate as explained            amount).
on page 2 under “How to File” are required to file their 
amended return electronically. Entities that are not sub-
ject to the Electronic Filing Mandate have the option of         Signatures
                                                                 The NJ-CBT-1065 is not considered to be a return un-
filing their amended partnership return electronically or 
                                                                 less signed, either by a general partner, limited liability 
mailing it to:
                                                                 company member or, if applicable, a receiver, trustee in 
NJ Division of Taxation                                          bankruptcy, or assignee.
Revenue Processing Center
PO Box 194                                                       Anyone who prepares a partnership return for a fee must 
Trenton NJ 08646-0194                                            sign the return as a “Paid Preparer” and must enter their 
                                                                 Social Security number or federal practitioner tax identi-
                                                                 fication number. The company or corporation name and 
Penalty and Interest Charges
A penalty of $100 for each month or part of a month              federal employer identification number must be included 
will be imposed for a partnership that is required to file       if applicable. The preparer required to sign the partner-
electronically but fails to do so. In addition, a late filing    ship return must sign it by hand; signature stamps or 
penalty of 5% per month (or part of a month) up to a             labels are not acceptable. If someone prepares the 
maximum of 25% of the outstanding tax liability will also        return at no charge, the paid preparer’s area does not 
be imposed.                                                      need to be completed. A tax preparer who fails to sign 
                                                                 the return or provide a correct tax identification number 
The Division may impose a penalty against the partner-           may incur a $25 penalty for each omission.
ship if the partnership is required to file an NJ-CBT-1065 
and (1) fails to file the return on time, including any 
extension, (2) files a return that fails to show all the         Line-by-Line Instructions
information required, or (3) fails to file an amended part    -  Reporting Period
nership return within 90 days of the date a final federal        If you are reporting for a period other than Calendar Year 
determination or disallowance is issued or within 90 days        2022, enter the beginning and ending dates of your fiscal 
of the date the amended federal Form 1065 is filed, un-          year.
less the failure is due to reasonable cause and not due 
to willful neglect.                                              Partnership Name, Address, Identification 
                                                                 Enter the exact legal name, trade name, if any, and ad-
Late Filing Penalty. 5% per month (or part of a month)           dress of the partnership. The legal name is the name 
up to a maximum of 25% of the outstanding tax liability          in which the business owns property or acquires debt. 
when a return is filed after the due date or extended            Enter the trade name, registered alternate name, (d/b/a 
due date will be imposed. A penalty of $100 for each             name) if different from the partnership’s legal name.

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Enter the partnership’s federal employer identification     Line 8 – Total Tax Paid on Behalf of Partnership 
number (FEIN), principal business activity, and date the    From Tiered Partnership Payment Schedule
business was started.                                       Enter the total tax paid on behalf of partnership from 
                                                            Schedule T.
Enter the number of resident partners and the number of 
nonresident or foreign partners in the spaces provided.     Line 9 – Estimated Payments/Credit From 2021
Each partner’s residency status must be determined as       Enter the total amount of estimated payments made. 
of the close of the partnership’s tax year.                 Also, enter your credit forward request from line 13 of 
                                                            your 2021 NJ-CBT-1065.
Check the appropriate boxes to indicate whether the re-
turn is a(n)                                                Line 10 – Payment From CBT-206
•  Initial return;                                          Enter the amount of the payment remitted with your 
                                                            2022 Partnership Application for Extension of Time to 
•  Final return; or 
                                                            File NJ-CBT-1065.
•  Amended return. 
                                                            Lines 11 and 12
Check the appropriate boxes to indicate if                  If line 6 is more than the total of lines 7 through 10, there 
•  An application for a federal extension is attached;      is a balance due. Complete line 11. 
•  This is a tiered partnership. 
                                                            If line 6 is less than the total of lines 7 through 10, there 
                                                            is an overpayment. Complete line 12.
Nonresident Partners Tax (Lines 1–13)
Any entity that was required to calculate a tax on its non-
resident partner(s) on the NJ-1065 must complete lines      Line 11 – Total Balance Due
                                                            Subtract lines 7–10 from line 6 and enter the balance 
1 through 13 of Nonresident Partners Tax. 
                                                            due. Make check payable to “State of New Jersey – 
Line 1 – Total Income                                       CBT” and remit with your completed NJ-CBT-V, Corpora-
Enter the total income from line 12 of the NJ-1065.         tion Business Tax–Partnership Payment Voucher. 

Line 2 – Total Nonresident Noncorporate Partner             Line 12 – Overpayment
Share of Tax                                                Subtract line 6 from the total of lines 7–10 and enter the 
Enter the amount from line 2c, column J, of Partners Di-    overpayment.
rectory on the NJ-1065.
                                                            Line 13 – Credit to 2023
Line 3 – Total Nonresident Corporate Partner Share          Enter the amount of the overpayment shown on line 12 
of Tax                                                      that you want forwarded to your 2023 NJ-CBT-1065.
Enter the amount from line 2c, column K, of Partners Di-
rectory on the NJ-1065.                                     Line 14 – Refund
                                                            Enter the amount of the overpayment shown on line 12 
Line 4 – Total Tax                                          that you want refunded.
Add lines 2 and 3. 

Line 5 – Interest on Underpayment of Estimated Tax
Enter the amount of interest due from line 18 of the 
CBT-160-P. Check the box if the entity qualified for an 
exception to the imposition of interest or if the partner-
ship calculated an interest charge on the underpayment 
of installment payments.

Line 6 – Total Due
Add lines 4 and 5.

Line 7 – Pass-Through Business Alternative Income 
Tax Credit
If you check the nonresident partners tax box on Form 
NJ-1065, Schedule A, Part II, line 14, enter the partner-
ship’s total share of Pass-Through Business Alternative 
Income Tax from Schedule T.

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