New Jersey Alternative Business Calculation Adjustment

Alternative Business Calculation Adjustment
2023 Schedule NJ-BUS-2, Form NJ-1040 New Jersey Gross Income Tax Alternatoive Business Calculation Adjustment
Name(s) as shown on Form NJ-1040

Social Security Number

Schedule NJ-BUS-2	
	

Part I

(Form NJ-1040)	

New Jersey Gross Income Tax	
Alternative Business Calculation Adjustment

Income (Loss)

Column A

Column B

Reportable Regular
Business Income

Alternative Business
Income (Loss)

1. Net Profits From Business

1a.

1b.

2. Distributive Share of
Partnership Income

2a.

2b.

3. Net Pro Rata Share of
S Corporation Income

3a.

3b.

4. Net Gain or Income From Rents,
Royalties, Patents, and Copyrights

4a.

4b.

5. Loss Carryforward From
Tax Year 2022

5b. (

6. Totals

Part II

2023

6a.

)

6b.

Adjustment Calculation

7. Total Regular Business Income

7.

8. Total Alternative Business Income/(Loss)
(If loss, enter zero)

8.

9. Business Increment
(Subtract line 8 from line 7)

9.

10. Adjustment Percentage

10.

11. Alternative Business Calculation
Adjustment (Line 9 x 0.50)

11.

0.50

Part III Loss Carryforward to Tax Year 2024
12. Loss Carryforward to Tax Year 2024
Line 1a.	
Line 1b.	
Line 2a.	
Line 2b.	
Line 3a.	
Line 3b.	
Line 4a.	
Line 4b.	
Line 5b.	
Line 6a.	
Line 6b.	
Line 7.	
Line 8.	
Line 9.	
Line 10.	
Line 11.	
Line 12.	

12. (

Instructions
Enter the amount from line 18, Form NJ-1040.
Enter the amount from Part I, line 4, Schedule NJ-BUS-1 (Form NJ-1040).
Enter the amount from line 21, Form NJ-1040.
Enter the amount from Part II, line 4, Schedule NJ-BUS-1 (Form NJ-1040).
Enter the amount from line 22, Form NJ-1040.
Enter the amount from Part III, line 4, Schedule NJ-BUS-1 (Form NJ-1040).
Enter the amount from line 23, Form NJ-1040.
Enter the amount from Part IV, line 4, Schedule NJ-BUS-1 (Form NJ-1040).
Enter the amount from line 12 of your 2022 Schedule NJ-BUS-2 (Form NJ-1040).
Enter the total of lines 1a through 4a.
Enter the total of lines 1b through 5b, netting gains with losses.
Enter the amount from line 6a of this schedule.
Enter the amount from line 6b of this schedule. If loss, enter zero here.
Subtract line 8 from line 7. If the result is zero, enter zero on line 11 and continue with line 12.
The adjustment percentage for Tax Year 2023 is 50% (0.50).
Multiply the amount on line 9 by 50% (0.50). Enter here and on line 35 of Form NJ-1040.
If the amount on line 6b is a loss, enter the amount of the loss on this line. Otherwise, enter zero.

Keep a copy of this schedule for your records

)