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Division of Taxation

Electing S Corporation Status

A corporation electing to register as a New Jersey S Corporation must file a New Jersey S Corporation Election. The filing due date for the election is one month later than the time to file a federal election.

For the election to be valid, every shareholder of the corporation must consent to the election and other requirements of New Jersey. The corporation will be notified within 30 days after filing whether or not the election is accepted.

Once an election is made and accepted, a corporation remains a New Jersey S corporation as long as it is a federal S corporation. To revoke an election, a letter of revocation must be filed. The letter must be signed by all shareholders holding more than 50% of the outstanding shares of stock on the day of the revocation and a copy of the original election form must be enclosed. The filing deadline for a letter of revocation is on or before the last day of the first tax year of the election.

For more information on S Corporations, visit the Division of Revenue and Enterprise Services website.

Last Updated: Monday, 12/21/20