Small Business Quarterly Taxes

**nichka** · 04-05-2009, 08:01 AM

Hi!
I live in NJ.
I registered my sole proprietorship in Jan 2009 but didn't start to make money yet. I'm still working on launching my website where the all sales will be made. The question is: do I have to file quarterly state taxes (I received form ST-51 and ST-50)? If yes and I didn't do it - what would be the penalty?
Thank you for your help.

**Mr. Knowitall** · 04-06-2009, 08:59 AM

The answer to this is almost certainly in the instructions you received with the form, and is also here:

Quoting Quarterly Returns

All businesses registered for sales tax must file quarterly returns regardless of whether or not any sales were made or tax was due during the quarter. The total amount of tax due for the quarter, after taking credit for any monthly payment(s), must be remitted with the return.

So do that, and avoid penalties.