NEW JERSEY ACA REPORTING

MZQ can help with your NJ state health coverage filing needs!

Beginning on January 1, 2019 the Individual Mandate provision of the Affordable Care Act (ACA) was reduced to $0. In response to this, the State of New Jersey has enacted its own Individual Mandate beginning in 2019 which mimics the ACA’s Individual Mandate prior to it being reduced to $0. From an employer’s perspective, the New Jersey Individual Mandate has created additional reporting requirements in Q1 2020 for employers who have employees who reside in New Jersey.

What does this mean for me?
First, any employer who withholds or remits New Jersey Gross Income Tax for New Jersey residents will have to file with the State of New Jersey if it is an Applicable Large Employer (ALE). This also means that any out-of-state employers that withhold and remit NJ Gross Income Tax for NJ residents have the same filing requirements as businesses located in NJ. The State plans for employers to submit the Forms 1094-C and 1095-C using the same electronic system it uses for filing the W-2 forms with the State. Furthermore, all employers who complete a Form 1095-C for a New Jersey resident will have to provide it to the State of New Jersey.

The due date to report to the State of New Jersey is March 31, 2020.

MZQ can help with your NJ state filing needs! Please don’t hesitate to contact us with any questions or concerns!