NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
The Department of the Treasury reported October revenue collections were above targeted growth, with collections for the major taxes totaling $2.639 billion, up $361.9 million, or 15.9% above last October. Year-to-date, total collections of $8.781 billion are up $784.4 million, or 9.8% above the same period last year. According to Treasury, “The Corporation Business Tax […]
The NJ Division of Taxation recently released Technical Bulletin 87 (TB-87), which provides information on New Jersey’s treatment of the IRC 163j limitation. For a copy of TB-87, please click here. Based on the release of this Technical Bulletin, we are soliciting feedback on the impact that the guidance may have on NJBIA members. To […]
New Jersey has announced that it will be extending the Corporation Business Tax (CBT) return due date for 2017 by one month. For 2017 calendar year taxpayers, this changes the otherwise extended due date from October 15, 2018, to November 15, 2018. The extension is only for the purposes of providing relief from the late […]
NJBIA President & CEO Michele N. Siekerka, Esq. issued the following statement Thursday regarding Gov. Phil Murphy’s action on A-4495, which revises the Corporation Business Tax. “We are extremely disappointed the governor has signed A-4495 into law, which extends well beyond the intended cleanup of the Corporation Business Tax (CBT) legislation passed in July and will […]
Earlier today, Governor Murphy took action on a number of bills. He issued a conditional veto on the following pieces of legislation: A-4262/S-2795 (Pintor Marin/Sweeney) – Decouples certain provisions of corporation business tax from Internal Revenue Code; alters dividends received deduction; revises tax base of surtax on corporation business income; repeals tax on certain dividends. As you […]
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New Jersey Business & Industry Association
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