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Newly formed condominium association with zero income


This question is submitted by Roberta M. out of New Jersey


My client is a newly formed condominium association with zero income and one attorney expense for start-up costs. We have filed the 1120-H and I am getting prepared to file to the State of NJ.

I believe we must file a CBT-100. I don't see any other NP tax forms that we could file for NJ. Is this correct? Why do we have to pay $500 to the state if there is ZERO taxable income? Thank you.




meadosw v2


Answers (3)

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