NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
A proposal by the Biden administration to raise the corporate income tax rate to 28% from 21% would increase the federal-state combined tax rate to 32.34% — the highest level in the Organization for Economic Cooperation and Development (OECD), according to a new analysis by the Tax Foundation. The study also found that the higher […]
“Senate President Sweeney announced a plan to permanently increase the Corporate Business Tax today to better fund NJ Transit. The CBT rate dropped from a temporary 11.5% to a temporary 10.5% on January 1, and it was supposed to be permanently lowered back to its pre-surtax level of 9% in a few years. Senate President […]
The NJ Division of Taxation recently released Technical Bulletin 85 (TB-85), which provides guidance on how the Division will treat Global Intangible Low-Taxed Income (GILTI) and Foreign Derived Intangible Income (FDII), under New Jersey’s Corporation Business Tax (CBT). Specifically all CBT taxpayers, filing a CBT-100 or BFC-1, will calculate the portion of GILTI and FDII […]
The New Jersey Business & Industry Association, NJ State Chamber of Commerce, NJ CPA Society, NJ Retail Merchants Association, Commerce & Industry Association of NJ, Morris County Chamber of Commerce, Hunterdon County Chamber of Commerce, Somerset County Business Partnership, NJ Food Council, and Meadowlands Regional Chamber released the following joint statement today regarding A-4495/S-2989, commonly known […]
The Assembly Budget Committee and Senate Budget and Appropriations Committee considered and approved legislation yesterday that makes a number of changes to the tax structure in New Jersey. The bills are all currently scheduled in both houses for a vote on Thursday. I have included links to the bills, as well as a brief summary […]
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New Jersey Business & Industry Association
10 West Lafayette Street Trenton, NJ 08608-2002
Tel: 609-393-7707
