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Old 12-28-2011, 06:28 PM
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Time for NJ to process biz taxes filed

Hi,
does anyone know how long will it take NJ to file a late business tax from the time they receive it?

I need a tax clearance so I'm anxious

Thanks,



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Old 12-29-2011, 01:20 PM
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“does anyone know how long will it take NJ to file a late business tax from the time they receive it? “---->I guess you need to visit the NJ gov website here for more information in detail; Late Filing Nj Corporation



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Old 12-29-2011, 02:54 PM
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Thanks but I meant more like "If they receive it today, in x weeks it will show up on their system and all penalties /payments calculated."



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Old 12-30-2011, 02:20 AM
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Penalty and interest will be charged for both late filing of a tax return and late payment of tax due as follows:

The late filing penalty is 5% of the tax due for each month or portion of a month the return is late. The maximum penalty for late filing is 25%. The Division may also charge a penalty of $100 for each month the return is late.

A late payment penalty of 5% of the tax due may also be charged.

Interest is calculated at the annual rate of 3% above the prime rate for every month or portion of a month the tax is unpaid, compounded annually. At the end of each calendar year any tax, penalties and interest still due become part of the balance on which interest is charged.
Please visit the NJ dept of Taxation :http://www.state.nj.us/treasury/taxa...s/tb/tb21t.pdf



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