Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-04-2015, 01:41 AM
bull808
 
Posts: n/a
Question New Jersey S-Corp minimum tax

I have a full time job and I'm the only one running the S corp at my spare time. I had about $4,200 loss in 2014, and $1,800 in 2013.

1. Do I still need to pay annual NJ S-corp minimm tax $375 when filing tax return? I just used TurboTax for business and got 0 tax due. Not quite sure why. I paid $375 for 2013 told by TurboTax.
2. Do I need to pay salary to myself?
3. Will there be any issues from IRS / NJ if I keep the S-corp like this, paying no salary and having losses? I want to try a couple of more years to see whether I can take off.
Thanks !



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What are the Changes to the New Jersey Minimum S Corporation Income Tax? TaxGuru New Jersey 0 08-22-2011 11:53 AM
File New Jersey corp taxes? mrm22 S-Corporation 0 02-05-2011 04:49 AM
Minimum Tax in New Jersey paul.kienan Sole-Proprietorship 1 04-21-2009 07:01 PM
S Corp Alternative Minimum Tax tpowell Alternative Minimum Tax 0 10-18-2007 08:11 PM
New Jersey Minimum S Corporation Tax Rate Leah S-Corporation 0 02-16-2007 08:47 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.