Ideas & Insights

New Jersey Gov. Phil Murphy has approved a bill that authorizes over $14 billion in business tax credits and incentives.

Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.

Ten-year net deferred tax liability deduction may be claimed beginning in 2023 as long as Form DT-1 is timely filed by July 1, 2020.

Emerging technology and life sciences companies can apply for a refundable tax credit for their qualifying investments.

The ACA’s shared responsibility penalty on individuals without health insurance no longer applies after 2018, but state penalties may apply.

New Jersey becomes the sixth state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.

New Jersey Division of Taxation rescinds unpopular GILTI and FDII allocation guidance issued in December; new guidance expected shortly.

Program offers credit against the corporation business tax and the gross income tax for certain digital media content expenses.

We invite you to learn how to equip yourself with the knowledge and tools to deliver better outcomes for your organizations.

The New Jersey Division of Taxation's website for the mandatory registration of a combined group by its managerial member is now available.

New Jersey Division of Taxation provides updates to its section 965 reporting procedures in an effort to streamline compliance obligations.

Tax Amnesty program begins Nov. 15, 2018 and runs for 60 days; offers waiver of penalties and reduced interest.

New Jersey enacts remote seller sales tax nexus provisions previously announced in guidance, effective Nov. 1, 2018.

New Jersey fiscal year 2019 budget increases conformity of the state research and development tax credit to the current federal provisions.

Major provisions include the state response to federal tax reform, market-based sourcing, and a tax amnesty program.

UEZ benefits extended for all expiring zones to Dec. 31, 2023; review of return on investment of UEZ program established.

Qualifying New Jersey technology and biotech companies may sell unused NOLs and R&D credits to certain corporate taxpayers.

Retailer merchandise credits were similar to “gift certificates” and not subject to escheat under state’s unclaimed property law.

Voluntary disclosure program targets remote sellers with click-through or referral arrangements with New Jersey parties.

Tax bill will fund transportation projects with gas tax increase, also offering sales tax rate reductions and personal income tax benefits.