Schedule G-2 Template - Exceptions To The Addback Of Interest (Page 2 of 3) in pdf

NAME AS SHOWN ON RETURN

FEDERAL ID NUMBER

SCHEDULE G-2 PART I

EXCEPTIONS TO THE ADDBACK OF INTEREST

Exception 3 - Interest Paid, Accrued, or Incurred to Related Corporations Filing in New Jersey

If claiming this exception for more than one related member, complete Exception 3 for each related member and enter the total for all related members in the

Total Exceptions Chart.

Name of Related Member: ______________________________________________________________________________________________________

FID # of Related Member: _______________________________________________________________________________________________________

Fiscal Period of Related Member: ________________________________________________________________________________________________

1. Was any interest expense included in Schedule G, Part I if this return, directly or indirectly paid, accrued or incurred to the above related member and

included in a New Jersey CBT-100 or CBT-100S filed by the related member?

“Yes” or “No” _______________________. If “Yes”, answer question 2. If “no”, you do not qualify for this exception.

2. Was the tax liability reported on the related member’s New Jersey CBT-100 or CBT-100S greater than the statutory minimum tax?

“Yes” or “No” _______________________. If “Yes”, complete the following schedule. If “no”, you do not qualify for this exception.

Column B

Column A

Related Member

Taxpayer

1. Enter in column A and column B the amount of interest claimed by the taxpayer as

being deductible . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. Enter entire net income of related member from line 1, page 1 of New Jersey CBT-100

or CBT-100S return. IF THE AMOUNT ON LINE 2 IS ZERO OR LESS, STOP HERE.

THE EXCEPTION AMOUNT TO BE ENTERED ON LINE 8 IS ZERO, OTHERWISE

PROCEED TO LINE 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3. Enter the lesser of line 1, column B or line 2, column B . . . . . . . . . . . . . . . . . . . . . .

4. Enter the respective allocation factors from line 2, page 1 of the New Jersey CBT-100

or CBT-100S return. If non-allocating, then enter 1.00 . . . . . . . . . . . . . . . . . . . . . . .

5. Multiply line 1 by line 4 for column A and line 3 by line 4 for column B. Enter the result

here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Enter the respective tax rates from line 9, of the New Jersey CBT-100 or line 4 of

CBT-100S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Multiply line 5 by line 6 and enter the result here . . . . . . . . . . . . . . . . . . . . . . . . . . .

8. Exception 3 amount - if line 7, column B is greater than line 7, column A, enter the

amount from line 1, column A, otherwise divide the amount on line 7, column B by line

6, column A, and then divide that result by line 4, column A. Enter result here and on

line 3 of the Total Exceptions Chart for Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Exception 4 - Interest Paid, Accrued, or Incurred to an Independent Lender

1. Was any interest listed on Schedule G, Part I of the New Jersey CBT-100 or CBT-100S return directly or indirectly paid, accrued or incurred to an

independent lender? “Yes” or “No” _______________________.

2. Is the debt upon which the interest is required guaranteed by the taxpayer filing this return? Yes” or “No” _______________________.

If “Yes” is checked for both questions 1 and 2, complete the chart below. If “No” is checked for either question 1 or 2, you do not qualify for this exception.

Amount of Indebtedness

Amount Deducted

Name of Independent Lender

(a) Total - enter here and on line

of the Total Exceptions Chart for Part I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A copy of the loan agreement evidencing the guarantee of the debt by the taxpayer must also be submitted with this return

Total Exceptions Chart for Part I

1. Exception 1 - Enter amount from line (a) of Schedule G-2, Part I, Exception 1 . . . . . . . . . . . . . . . . . . . . . .

2. Exception

- Enter amount from line 9 of Schedule G-2, Part I, Exception 2 . . . . . . . . . . . . . . . . . . . . . . .

3. Exception 3 - Enter amount from line 8 of Schedule G-2, Part I, Exception 3 . . . . . . . . . . . . . . . . . . . . . .

4. Exception 4 - Enter amount from line (a) of Schedule G-2, Part I, Exception 4 . . . . . . . . . . . . . . . . . . . . . .

5. Total Part I Exceptions - Add lines 1, 2, 3 and 4. Enter total here an on line (b) of Schedule G, Part I . . . .

Schedule G-2 Template - Exceptions To The Addback Of Interest Page 2

Related Articles

Related forms

Related Categories