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Shareholder Information > New Jersey tab

Use the state tabs in the
Shareholder Information
 window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.
To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
 window, then the state tab.

Fields and buttons — New Jersey information group box

If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to treating the shareholder as consenting to file their own New Jersey tax return.
Code
Description
1
Consenting shareholder (default)
.
This is the default filing for a nonresident shareholder when a code is not selected from the drop-down list. Select this option to indicate the shareholder is not subject to withholding. When you select this option, UltraTax CS does not calculate tax due on behalf of this shareholder.
2
Nonconsenting shareholder
.
Select
2
 for any shareholder who does not consent to file an individual New Jersey return and does not join in the filing of a composite return on behalf of the nonresident shareholder. UltraTax CS calculates the tax due on behalf of this shareholder on Form NJ-K-1, Part II and uses the amount on Form CBT-100S, Schedule K, Part VII, column (F), and Form CBT-100S, Page 1.
3
Composite filer
Select
3
 to indicate that the corporation is filing a composite return on behalf of a nonresident shareholder. If you select
3
 and go to
File
, then
Client Properties
 to select
NJ-1080C Composite Return
, UltraTax CS completes Form NJ-1080C — Nonresident Composite Return and calculates the net tax due for all composite nonresident shareholders.
Enter the amount reported on Form 1099-INT for this shareholder. This amount appears on Form NJ-K-1, Part V.
Enter the amount of debt from the corporation to this shareholder. This amount appears on Form NJ-K-1, Part V.
Enter the amount of debt from the shareholder to the corporation. This amount appears on Form NJ-K-1, Part V.
Enter the date on which the stock owned by the shareholder was fully disposed. UltraTax CS displays this date on Schedule NJ-K-1.
Use this  statement for supplemental information specific to each shareholder and for items that are not pro rata. If you have pro rata items that need to be reported to each shareholder, use Section A on the
NJKSep
 screen. UltraTax CS prints the information you enter in this statement in the shareholder's NJ Schedule K-1 statements.

Fields and buttons — Schedule K, Part IV group box

Enter the beginning balance of the New Jersey Earnings and Profits account for new clients. This information is proforma'd for clients with prior-year data. If you leave this field blank, UltraTax CS uses the shareholder's pro-rata share from Form CBT-100S, Schedule K, Part IV.
UltraTax CS/1120-NJ uses federal distribution amounts, federal methods, and New Jersey account amounts to classify New Jersey distributions. If you want a different distribution, use this field to specify a distribution (dividend) from the New Jersey Earnings and Profits account.
Enter the beginning balance of the New Jersey Accumulated Adjustments Account for new clients. This information is proforma'd for clients with prior-year data. If you leave this field blank, UltraTax CS uses the shareholder's pro-rata share from Form CBT-100S, Schedule K, Part IV.
UltraTax CS/1120-NJ uses federal distribution amounts, federal methods, and New Jersey account amounts to classify New Jersey distributions. If you want a different distribution, use this field to specify a distribution from the New Jersey Accumulated Adjustments Account.
Enter the beginning balance of the Non-New Jersey Accumulated Adjustments Account for new clients. This information is proforma'd for clients with prior-year data. If you leave this field blank, UltraTax CS uses the shareholder's pro-rata share from Form CBT-100S, Schedule K, Part IV.
UltraTax CS/1120-NJ uses federal distribution amounts, federal methods, and New Jersey account amounts to classify New Jersey distributions. If you want a different distribution, use this field to specify a distribution from the Non-New Jersey Accumulated Adjustments Account.

Fields and buttons — Alternative tax

Enter a code from the following table or select a code from the dropdown list to indicate the shareholder type of each shareholder. The shareholder type code displays on Form PTE-100, Page 2 – Members Directory. When a shareholder type isn't selected for a shareholder, UltraTax defaults to the code based upon information present elsewhere in the
Shareholder information
 window.
Code
Description
RI
New Jersey Resident Individual
NR
Nonresident Individual
PI
Part-Year Resident Individual
RP
New Jersey Resident Partnership
NP
Nonresident Partnership
RT
New Jersey Resident Trust
NT
Nonresident Trust
RE
New Jersey Resident Estate
NE
Nonresident Estate
RC
New Jersey Corporation
FC
Non-New Jersey Corporation
RO
New Jersey Resident Other
NO
Nonresident Other
Mark this checkbox when the shareholder is a disregarded entity. Marking this checkbox also marks the corresponding checkbox on the shareholder’s Schedule PTE-K-1.
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