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New Jersey Domestic Production Activities Deduction
Extracted from PDF file 2023-new-jersey-form-501.pdf, last modified December 2005Domestic Production Activities Deduction
FORM 501 (11-18, R-4) Name as Shown on Return NEW JERSEY CORPORATION BUSINESS TAX DOMESTIC PRODUCTION ACTIVITIES DEDUCTION For tax years beginning before January 1, 2018 Federal ID Number READ THE INSTRUCTIONS BEFORE COMPLETING THE FORM (A) Federal Amount 1. Domestic production gross receipts . . . . . . . . . . . . . . . 2. Allocable cost of goods sold . . . . . . . . . . . . . . . . . . . . 3. Directly allocable deductions, expenses, or losses . . . 4. Indirectly allocable deductions, expenses, or losses . . 5. Add lines 2 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . 6. Subtract line 5 from line 1 . . . . . . . . . . . . . . . . . . . . . . 7. Qualified production activities income from passthrough entities (see federal instruction ) . . . . . . . . . . 8. Qualified production activities income. Add lines 6 and 7. If zero or less, enter here, skip lines 9 though 15, and enter 0 on line 16 . . . . . . . . . . . . . . . . . . . . . . . . . 9. Income limitation (see federal instruction ) . . . . . . . . . 10. Enter the smaller of line 8 or line 9. If zero or less, enter 0 here, skip lines 11 through 15, and enter 0 on line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. Enter 3% of line 10 for tax years beginning on or before December 31, 2006. Enter 6% for tax years beginning January 1, 2007 thru December 31, 2009. Enter 9% for tax years beginning after December 31, 2009. . . . 12. Form W-2 wages (see federal instruction ) . . . . . . . . . 13. Form W-2 wages from pass-through entities (see federal instruction ) . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. Add line 12 and 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15. Form W-2 wage limitation. Enter 50% of line 14 . . . . 16. Enter the smaller of line 11 or line 15 . . . . . . . . . . . . . 17. Domestic production activities deduction from cooperatives. Enter deduction from Form 1099-PATR, box 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18. New Jersey domestic production activities deduction. Combine lines 16 and 17 from column C and enter the result on on Form CBT-100, Schedule A-5, line 2 or CBT-100S, Schedule A, line 37(e) . . . . . . . . . . . . . . . . NJ Corporation Number (B) Disallowed Activities (C) New Jersey Amount FORM 501-A (11-18, R-4) INSTRUCTIONS This form can only be used for tax years beginning before January 1, 2018. For tax years beginning on and after January 1, 2018, IRC section 199 was repealed and the deduction is no longer allowed for New Jersey corporation business tax purposes. Do not use this form for tax years beginning on and after January 1, 2018. 1. Enter in Column A the Domestic Production Activities as reported on the federal return. 2. Enter in Column B all activities reported in column A that do not pertain to the taxpaying entity filing this return and ALL activities related to the growth, production, extraction, engineering and other services regardless of which entity qualified for federal purposes. 3. Subtract Column B from Column A and enter the sum in Column C. 4. Carry Column C, line 18 to Form CBT-100, Schedule A-5, line 2 or Form CBT-100S, Schedule A, line 37(e).
Form 501
More about the New Jersey Form 501 Corporate Income Tax TY 2023
We last updated the Domestic Production Activities Deduction in February 2024, so this is the latest version of Form 501, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 501 directly from TaxFormFinder. You can print other New Jersey tax forms here.
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TaxFormFinder has an additional 95 New Jersey income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New Jersey Form 501.
| Form Code | Form Name |
|---|---|
| Form 501-GIT | Domestic Production Activities Deduction |
View all 96 New Jersey Income Tax Forms
Form Sources:
New Jersey usually releases forms for the current tax year between January and April. We last updated New Jersey Form 501 from the Division of Revenue in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of New Jersey Form 501
We have a total of thirteen past-year versions of Form 501 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form 501
Form 501
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