CBT-2553-R: Retroactive S Election Application (Revision)
New Jersey · NJ Division of Taxation · Used for tax years 2025
Form CBT-2553-R asks New Jersey to accept an S corporation election after the normal deadline, so the corporation is treated as a New Jersey S corporation from an earlier date.
Who files this form
Corporations seeking New Jersey S corporation status must apply and receive approval. Federal S corporation status does not automatically carry over to New Jersey.
The supplied text describes the general New Jersey S corporation election process. It does not identify separate eligibility rules for a retroactive election.
When it's due
For this 2025 edition, the text gives this filing example: an election for a fiscal period beginning July 1 must be filed by October 15.
The supplied text does not state a separate deadline for a retroactive election.
What you'll need
The text lists these requirements for a New Jersey S corporation election:
- Apply for S corporation status with the Internal Revenue Service.
- Be fully registered with the NJ Division of Revenue and Enterprise Services.
- Have a Certificate of Incorporation or a Certificate of Authority to do business in New Jersey.
- Obtain every shareholder's consent to the election.
It does not provide a separate document checklist for a retroactive election.
How to file
File a New Jersey S Corporation Election using the online SCORP application after applying for federal S corporation status and completing the required New Jersey registration.
The supplied text does not provide a mailing address or separate filing steps for CBT-2553-R.
Common mistakes
- Assuming federal approval is enough. You must also file for New Jersey S corporation status and receive approval. Without both, New Jersey treats your filings as those of a standard C corporation, with the applicable rates.
- Leaving out a shareholder's consent. Every shareholder must consent to the election.
- Overlooking authorization for an out-of-state corporation. Out-of-state corporations must be authorized to do business in New Jersey.
Questions people ask
Does federal S corporation status automatically apply in New Jersey?
No. You must apply for New Jersey S corporation status and receive approval.
Must all shareholders consent?
Yes. Every shareholder must consent to the election.
How long can the corporation keep its New Jersey S corporation status?
Once the election is made and accepted, the corporation may remain a New Jersey S corporation as long as it is a federal S corporation.
How can the corporation revoke its election?
File a revocation letter with the NJ Division of Revenue and Enterprise Services through the online SCORP application, along with a copy of the original election form. The letter must be signed by shareholders holding more than 50% of the outstanding shares on the day of revocation. It must be filed on or before the last day of the first tax year of the election.