Taxpayer is an S-Corp filing in New Jersey.

The form for NJ is CBT 100S.

On the form, it states the tax is calculated is based on "Taxable income subject to federal corporate taxation" on line 5.

This tax appears to be $0 for regular operating income taxation at the entity, meaning with $0 federal income tax on the Federal 1120-S, there is only a minimum tax due in New Jersey as well.

I wanted to confirm I was reading this correctly as it seems somewhat ambiguous. Ultimately, it seems that if there is only operating income at the entity, then none of that income is going to be taxed in New Jersey, with the exception of the minimum tax due.

Is there a location in the software to toggle this and ensure it is being calculated properly?