Requires combined groups to be determined on world-wide basis under corporation business tax.
Introduced, Referred to Assembly Commerce and Economic Development Committee
Summary
The bill changes New Jersey’s corporation business tax so that, starting July 31 2026, all members of a combined group—including foreign subsidiaries—must be counted on a worldwide basis unless the group elects an affiliated‑group method. It rewrites income inclusion, loss‑carryover, charitable deduction, and credit rules, and exempts certain insurers and regulated utilities. The change expands the tax base and standardizes how multinationals calculate New Jersey tax liability.
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