The New Jersey Division of Taxation has updated its “Frequently Asked Questions” guidance pertaining to changes for determining nexus for sales and use tax purposes for remote sellers based outside the state. In response to the U.S. Supreme Court case of South Dakota v. Wayfair, New Jersey enacted P.L. 2018, c.132, which imposes sales tax
The SALT Lawyer
New Jersey, Pennsylvania and New York multi-state and local tax issues
Blog Authors
Latest from The SALT Lawyer
New Jersey Division of Taxation Issues Detailed New Guidance on CBT Changes
The New Jersey Division of Taxation has recently created a webpage with a host of different guidance documents and FAQs the Division has put together to answer questions and provide more clarity on combined reporting, the new surtax, GILTI treatment and other corporate income tax changes.
The guidance can be accessed here.
Tax Exemption for the Sale of Tax Credits Restored
Last week Governor Murphy approved legislation, Assembly bill 4495, which contained a number of technical tax changes, including the restoration of the exemption from Gross Income Tax (“GIT”) for the sale of Grow New Jersey tax credits by pass-through entities.
Since, pass-through businesses do not pay corporation business tax, these businesses must sell their Grow…
(Big) Opportunity Knocks: Why Sills Cummis’ Attorneys Feel Opportunity Zones Could Bring ‘Greatest Wealth Transfer in History of Country’
As seen on: ROI-NJ
By: Tom Bergeron
In this ROI-NJ interview, Sills Cummis’ Ted Zangari and Jaime Reichardt share their insights on the recently enacted federal Opportunity Zone Program.
Ted Zangari, chair of the Redevelopment Law Practice Group at Sills Cummis & Gross P.C. in Newark, is one of the most prominent public incentives and real…
New Jersey Taxes—They Are a-Changing…
After weeks of negotiation and discussion regarding competing tax proposals in Trenton, a deal has been struck on the state budget and tax reform by Governor Phil Murphy and legislative leaders. The result is a host of business tax changes enacted as part of Assembly Bills A-3088, A-3438 and A-4202. Here is a summary of…
U.S. Supreme Court Overturns Quill: Online Sellers Can Now be Compelled to Collect Sales Tax
Today, the U.S. Supreme Court issued a landmark decision in the state and local tax world which overturns precedent going back to 1992. The decision, South Dakota v. Wayfair, No.17-494 (June 21, 2018), means that state and local taxing jurisdictions throughout the country can now compel online sellers to collect sales tax for sales made…
New Jersey’s Taxation of Limited Partnerships: The Saga Continues
In February 2018, the New Jersey Tax Court delivered another blow to the Division of Taxation’s (the “Division”) attempts to use partnership income tax withholding to tax out-of-state limited partners. In so doing, the Tax Court has arguably called into question New Jersey’s entire partnership remittance or withholding regime.
Case Discussion
In National Auto Dealers…
Murphy reactivates UEZs in 5 communities: Bridgeton, Camden, Newark, Plainfield, Trenton
By Ted Zangari
As seen on: ROI-NJ.com
Gov. Phil Murphy’s decision to reactivate Urban Enterprise Zones for five years in five communities across the state was met with applause from municipal and association leaders.
Murphy signed legislation Wednesday to reinstate UEZs in Bridgeton, Camden, Newark, Plainfield and Trenton until Dec. 31, 2023.
New York and Pennsylvania Nominate Their Choices for Opportunity Zones
Late last week, the governors of New York and Pennsylvania submitted their selections for opportunity zone designations to the U.S. Department of Treasury. Those nominations are expected to be approved by Treasury to take advantage of the new federal tax incentive program. The federal Opportunity Zone program is a new tax incentive designed to direct…
New Jersey Issues New Guidance on Federal Deemed Repatriation Rules
The New Jersey Division of Taxation has issued guidance pertaining to the state’s treatment of the federal Tax Cuts and Jobs Act’s one-time repatriation of certain foreign earnings and profits. Under the federal Act, U.S. shareholders of controlled foreign corporations or corporations owning 10 percent or more of another foreign corporation are deemed to receive…