New Jersey’s business calendar diverges sharply from the federal one, and a common misconception surrounds its pass-through tax. The BAIT is elective, not mandatory, the corporate return is due a month after the federal date, and only the BAIT election itself falls on the March deadline.
New Jersey Tax Deadlines at a Glance (2026)
Entity Type | Return Due | Extended Due Date |
|---|---|---|
Individuals (NJ-1040) | April 15, 2026 | October 15, 2026 |
C Corporations (CBT-100) | May 15, 2026 | November 15, 2026 |
S Corps (CBT-100S) / Partnerships (NJ-1065) | April 15, 2026 | October 15, 2026 |
BAIT election / PTE-100 | March 16, 2026 | September 15, 2026 (return only) |
Two date corrections: the CBT-100 corporate return is due May 15, 2026 — New Jersey trails the federal date by a month — not April 15. And S-corporation (CBT-100S) and partnership (NJ-1065) returns are due April 15, not the federal March 16. The only New Jersey pass-through item on the March deadline is the elective BAIT election (PTE-100).
BAIT Is Elective, Not Mandatory
New Jersey’s Business Alternative Income Tax (BAIT) is an optional entity-level tax, not a requirement. Partnerships and S corporations must register and make an annual election (Form PTE-100) by the original due date — March 16, 2026 — and the election cannot be extended or made retroactively. Owners then claim a refundable credit, working around the federal SALT cap. Estimated BAIT payments (PTE-150) follow the April 15 / June 15 / September 15 / January 15 schedule. BAIT rates are tiered from 5.675% to 10.9%.
Corporation Business Tax and the Transit Fee
The CBT base rate is 9% on entire net income over $100,000. For privilege periods from 2024 through 2028, a 2.5% Corporate Transit Fee applies to taxpayers with New Jersey allocated income over $10 million, pushing the top corporate rate to 11.5% — the highest in the country. New Jersey’s gross income tax tops out at 10.75% on income over $1 million.
Filing Fees, Estimates, and Penalties
Partnerships with more than two owners and New Jersey-source income owe a $150-per-owner filing fee (capped at $250,000). Individual estimated payments are due April 15, June 15, September 15, 2026, and January 15, 2027. New Jersey honors a federal extension if at least 80% of tax is paid by the original date. Late-filing and late-payment penalties run 5% per month (max 25%), plus interest at prime plus 3%.
CPA Action Steps
Call BAIT what it is — elective, requiring an annual PTE-100 election by March 16
File CBT-100 in May, not April; file CBT-100S and NJ-1065 in April, not March
Flag the 2.5% Corporate Transit Fee for clients over $10M NJ income
Budget the $150-per-owner partnership filing fee
Verify current rates and dates against the New Jersey Division of Taxation (nj.gov/treasury/taxation) before filing.