According to New Jersey Division of Taxation, "a penalty of $100 for each month or fraction of a month will be imposed for a partnership that fails to file electronically when there are ten (10) or more partners and a late filing penalty of 5% per month (or fraction of a month) up to a maximum of 25% of the outstanding tax liability will also be imposed."

Furthermore, the NJ Division "may impose a penalty against the partnership if the partnership is required to file Form NJ-1065, as well as Form PART-100 and (1) fails to file the return on time, including any extension, (2) files a return that fails to show all the information required, or (3) fails to file an amended partnership return within 90 days of the date a final Federal determination or disallowance is issued or within 90 days of the date the amended Federal Form 1065 is filed, unless the failure is due to reasonable cause and not due to willful neglect."

1. A penalty of $100 for each month or fraction of a month may be imposed for failure to file.
   
2. A late filing penalty of 5% per month (or fraction of a month) up to a maximum of 25% of the outstanding tax liability when a return is filed after the due date or extended due date may also be imposed.
   
3. A late payment penalty of 5% of the outstanding tax balance
4. may be imposed.
   
5. Interest will be computed at 3% above the prime rate for every month or fraction of a month the tax is unpaid, compounded annually.

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