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The New Jersey Sales Tax ST-50 form serves as a critical tool for businesses in managing their sales and use tax obligations. Designed specifically for online filing, this form allows businesses to report their gross receipts, calculate the sales tax owed, and make necessary payments in a streamlined manner. Each quarter, businesses must determine their total gross receipts, identify which receipts are exempt from sales tax, and calculate the tax due based on the applicable tax rate for that period. The form also includes provisions for reporting use tax, a necessary consideration for businesses that purchase items for use in New Jersey but did not pay sales tax at the time of purchase. Additionally, the ST-50 form requires businesses to account for any previous payments made, ensuring that they only remit the correct amount owed. As businesses navigate this process, they will find that the form not only facilitates compliance but also provides a structured way to maintain accurate records. Upon completion, it is essential to print the confirmation page for future reference, solidifying the importance of meticulous record-keeping in the realm of tax obligations.
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FOR ONLINE FILING ONLY
Online Filing and Payment Services
New Jersey Sales and Use Tax Quarterly Return
FOR ONLINE FILING ONLY
Use this worksheet to record the information you will enter when filing your
RETURN PERIOD
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Mar (1st quarter – Jan, Feb, and Mar) |
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Sep (3rd quarter – Jul, Aug, and Sept) |
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DO NOT USE FOR 3RD QUARTER 2006 |
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Jun (2nd quarter – Apr, May, and June) |
Year |
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Dec (4th quarter – Oct, Nov, and Dec) |
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RETURN INFORMATION
1. |
Gross receipts from all sales (to nearest dollar) |
$ |
2. |
Receipts not subject to Sales Tax |
$ |
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(to nearest dollar) |
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3. |
Receipts subject to Sales Tax |
$ |
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(Line 1 minus Line 2) |
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4. |
Sales Tax calculated (Line 3 × tax rate*) |
$ |
5. |
Sales Tax collected |
$ |
6. |
Sales Tax due (greater of Line 4 or Line 5) |
$ |
7. |
Use Tax due* |
$ |
8. |
Total tax due (Line 6 plus Line 7) |
$ |
9. |
Total monthly payments previously made |
$ |
10. |
Quarterly amount due (Line 8 minus Line 9) |
$ |
11. |
Penalty and interest |
$ |
12. |
Adjusted amount due (Line 10 plus Line 11) |
$ |
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These lines will be calculated by the filing system when you click the Calculate button
*Use the tax rate that applies to the quarterly return you are filing.
6% – Quarters ending on or before June 30, 2006
7% – Quarters ending December 31, 2006, through December 31, 2016 6.875% – Quarters ending March 31, 2017, through December 31, 2017 6.625% – Quarters ending after December 31, 2017
PAYMENT If paying through this filing system, enter the information for your payment method. Note:
If using EFT debit, enter only account type and debit date.
Bank Routing Number.......
Account Number................
Type of Account |
Checking |
Savings |
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Amount to be Debited..... $ |
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Payment Debit Date |
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Credit Card
Visa MasterCard American Express Discover
Credit Card Number.... |
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Expiration Date |
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Payment Amount...... $ |
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Convenience Fee..... $ |
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CONFIRMATION You will be assigned a Confirmation Number. Enter this number and the date in the boxes below.
Return Confirmation Number
Date/
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Payment Confirmation Number
(if payment is made separately)
Date |
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Filed by:_______________________________________ Filed by:_____________________________________________
Online Filing Quarterly Worksheet |
WORKSHEET MAY BE REPRODUCED |
(5/17) |
Form Specifications
| Fact Name | Description |
|---|---|
| Purpose | The ST-50 form serves as a worksheet for recording information required to file the New Jersey Sales and Use Tax quarterly return online. |
| Filing Periods | The form is applicable for four quarters: January-March (1st), April-June (2nd), July-September (3rd), and October-December (4th). |
| Tax Rates | Different tax rates apply depending on the filing quarter, with rates ranging from 6% to 6.875% based on the year and quarter. |
| Payment Methods | Payments can be made via e-check, EFT debit, or credit card, but accounts from outside the U.S. are not accepted for e-check or EFT. |
| Confirmation | Upon filing, users receive a Confirmation Number, which should be recorded along with the filing date for reference. |
| Governing Law | The ST-50 form is governed by New Jersey Sales and Use Tax Law, specifically under N.J.S.A. 54:32B. |
Nj Sales Tax St 50: Usage Guidelines
After gathering all necessary information, you are ready to fill out the New Jersey Sales Tax ST-50 form. Ensure you have accurate figures for gross receipts and tax rates. Once completed, you will submit the form online and should print the confirmation page for your records.
- Select the return period: Choose between March, June, September, or December.
- Enter gross receipts: Fill in Line 1 with total gross receipts from all sales, rounded to the nearest dollar.
- Record receipts not subject to sales tax: Enter this amount on Line 2, also rounded to the nearest dollar.
- Calculate receipts subject to sales tax: Subtract Line 2 from Line 1 and enter the result on Line 3.
- Calculate sales tax: Multiply the amount on Line 3 by the applicable tax rate and enter it on Line 4.
- Enter sales tax collected: Fill in Line 5 with the total sales tax you collected.
- Determine sales tax due: On Line 6, enter the greater amount between Line 4 and Line 5.
- Calculate use tax due: Enter the amount due on Line 7.
- Calculate total tax due: Add Line 6 and Line 7, and enter the result on Line 8.
- Record total monthly payments: Fill in Line 9 with any payments you made previously.
- Calculate quarterly amount due: Subtract Line 9 from Line 8 and enter the result on Line 10.
- Enter penalty and interest: Fill in Line 11 with any applicable penalties or interest.
- Calculate adjusted amount due: Add Line 10 and Line 11, and enter the result on Line 12.
- If paying online, enter payment information: Provide your bank routing number, account number, and type of account if using e-check or EFT debit. If using a credit card, fill in the card number and expiration date.
- Obtain confirmation: After submitting, write down the confirmation number and date in the provided boxes.
Your Questions, Answered
What is the NJ Sales Tax ST-50 form?
The NJ Sales Tax ST-50 form is a quarterly return used by businesses in New Jersey to report sales and use tax. This form helps businesses calculate the total sales tax due based on their gross receipts, as well as any use tax owed. It is essential for compliance with state tax regulations.
Who needs to file the ST-50 form?
Any business that sells taxable goods or services in New Jersey must file the ST-50 form if they are registered for sales tax. This includes retailers, wholesalers, and service providers. If your business meets these criteria, you are required to file the form quarterly.
How often do I need to file the ST-50 form?
The ST-50 form must be filed quarterly. The return periods are as follows: January through March (1st quarter), April through June (2nd quarter), July through September (3rd quarter), and October through December (4th quarter). Each quarter has its own deadlines for filing.
What information do I need to complete the ST-50 form?
To complete the ST-50 form, you will need information on your gross receipts, receipts not subject to sales tax, and receipts subject to sales tax. You will also need to calculate the sales tax due and any use tax owed. Ensure you have accurate records of your sales for the reporting period.
How is the sales tax calculated on the ST-50 form?
The sales tax is calculated by taking the receipts subject to sales tax and multiplying that amount by the applicable tax rate. The tax rate varies depending on the quarter in which you are filing. Be sure to use the correct rate for your reporting period.
What payment methods are accepted for the ST-50 form?
You can pay using an e-check or electronic funds transfer (EFT) debit, provided your account is based in the United States. Credit card payments are also accepted, including Visa, MasterCard, American Express, and Discover. Keep in mind that a convenience fee may apply to credit card transactions.
What should I do after filing the ST-50 form?
After filing the ST-50 form, it is important to print the confirmation page for your records. You will receive a confirmation number, which you should keep for future reference. This documentation is essential in case of any inquiries or audits from the state.
What happens if I miss the filing deadline for the ST-50 form?
If you miss the filing deadline, you may incur penalties and interest on any unpaid tax due. It is crucial to file as soon as possible to minimize these additional costs. Consider reaching out to a tax professional for guidance if you find yourself in this situation.
Common mistakes
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Failing to select the correct return period can lead to significant errors. Ensure you choose the appropriate quarter for your filing.
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Not rounding gross receipts to the nearest dollar can result in discrepancies. Always round up or down as required.
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Incorrectly categorizing receipts as subject or not subject to sales tax may lead to inaccurate calculations. Review your sales carefully.
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Forgetting to calculate the sales tax due can lead to underpayment. Double-check your calculations on Lines 4 and 5.
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Neglecting to include use tax due on Line 7 can result in an incomplete return. Be sure to account for all applicable taxes.
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Overlooking previously made payments on Line 9 can skew your total amount due. Keep accurate records of all payments.
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Not entering the correct payment method details can delay processing. Ensure all information is accurate.
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Failing to print the confirmation page after filing can lead to issues with record-keeping. Always save a copy for your files.
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Using outdated tax rates can result in incorrect calculations. Verify the applicable tax rate for the period you are filing.
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Not entering the confirmation numbers for your return and payment can complicate tracking. Document these numbers carefully.
Documents used along the form
The New Jersey Sales Tax ST-50 form is essential for reporting sales and use tax. Several other documents complement this form, ensuring accurate tax reporting and compliance. Below is a list of these related documents.
- ST-51 Exempt Use Certificate: This form is used by buyers to claim exemption from sales tax on purchases. It provides proof that the item purchased is exempt under New Jersey law.
- ST-3 Resale Certificate: Sellers use this certificate to document that a sale is for resale and not subject to sales tax. This helps maintain proper records for tax purposes.
- ST-4 Direct Payment Certificate: This document allows certain purchasers to pay sales tax directly to the state rather than through the seller. It is typically used by businesses making large purchases.
- ST-50.1 Amended Return: If a business needs to correct information from a previously filed ST-50, this form is used. It ensures that the state has accurate records of the tax due.
- Sales Tax Payment Voucher (Form ST-6): This voucher is used to submit payments for sales tax due. It provides a clear record of the payment made and is essential for tracking tax obligations.
Using these forms alongside the ST-50 ensures compliance with New Jersey sales tax regulations. Proper documentation is crucial for avoiding penalties and maintaining accurate financial records.
Similar forms
The New Jersey Sales Tax ST-50 form has similarities with several other tax-related documents. Here are four documents that share features with the ST-50 form:
- New Jersey Sales Tax ST-51: This form is also used for reporting sales tax, but it is specifically for annual sales tax returns. Like the ST-50, it requires gross receipts and calculates tax due based on sales.
- New Jersey Use Tax Return (Form ST-7): This document is used to report use tax owed on purchases made outside of New Jersey. Similar to the ST-50, it includes sections for detailing the amount of tax due based on purchases.
- New Jersey Corporation Business Tax Return (CBT-100): This form is for corporations to report their business income. Both the CBT-100 and ST-50 require detailed financial information and calculations to determine tax liability.
- New Jersey Gross Income Tax Return (Form NJ-1040): This is used by individuals to report their income. Like the ST-50, it involves calculating tax based on reported figures and includes provisions for payments and credits.
Dos and Don'ts
When filling out the New Jersey Sales Tax ST-50 form, it's important to follow some best practices to ensure accuracy and compliance. Here are four things you should and shouldn't do:
- Do double-check your gross receipts before entering them. Accurate figures are crucial.
- Do use the correct tax rate that applies to the quarter you are filing for. This will affect your total tax due.
- Don't forget to record any receipts that are not subject to sales tax. This will help you calculate the taxable amount correctly.
- Don't skip the confirmation step. Always print the confirmation page after filing for your records.
Misconceptions
Here are some common misconceptions about the New Jersey Sales Tax ST-50 form:
- The ST-50 form is only for businesses. This form is used by any entity that collects sales tax, including individuals who sell goods or services.
- Only large businesses need to file. All businesses, regardless of size, must file if they have taxable sales.
- You can file the ST-50 form on paper. This form is designed for online filing only; paper submissions are not accepted.
- Sales tax is calculated on total sales. You must first determine which receipts are subject to sales tax and which are not before calculating.
- Filing late will not result in penalties. Late filings can incur penalties and interest, so it is important to file on time.
- You do not need to keep records after filing. It is essential to retain a copy of your confirmation page and any supporting documents for your records.
- Only cash payments are accepted. You can pay using various methods, including credit cards and electronic funds transfers.
- Once filed, the form cannot be amended. You can file an amended return if you discover errors after submitting your ST-50.
Key takeaways
When filling out the New Jersey Sales Tax ST-50 form, keep these key takeaways in mind:
- Use the Worksheet: The ST-50 worksheet is designed for online filing. Record all necessary information before submitting your return.
- Select the Correct Period: Choose the appropriate return period. Options include March, June, September, and December.
- Calculate Sales Tax: Be sure to accurately calculate the sales tax due. This is based on your receipts subject to sales tax.
- Payment Methods: If you pay online, ensure your payment method is acceptable. E-checks or EFT debits must come from U.S. financial institutions.
- Keep Confirmation: After filing, print the confirmation page. This serves as proof of your submission.
- Check for Penalties: Be aware of any penalties or interest that may apply if payments are late. Calculate these amounts accurately.