News & Analysis as of

New Jersey Income Taxes

Flaster Greenberg PC

Compliance Alert: RetireReady NJ Program Coming Soon

Flaster Greenberg PC on

The State of New Jersey is making a state-administered retirement savings program available to eligible workers who do not have qualifying retirement savings plans through their employer. This is an innovative approach to...more

Pillsbury - SeeSalt Blog

New Jersey Tax Court Approves Use of Market-Based Sourcing for Years Prior to Legislature’s Adoption of Market-Based Sourcing

The New Jersey Tax Court held that a taxpayer was entitled to a refund of corporation business tax (CBT) for tax years 2011 and 2012 after determining the taxpayer correctly used a market-based sourcing methodology to source...more

Pillsbury - SeeSalt Blog

New Jersey Issues Guidance on Adoption of Federal Partnership Audit Regime

On April 5, 2024, the New Jersey Division of Taxation issued guidance discussing New Jersey’s adoption of the federal centralized partnership audit regime enacted as part of the federal Bipartisan Budget Act of 2015, P.L....more

Littler

Watch Out New York – New Jersey Wants Its Taxes Too!

Littler on

On July 21, 2023, New Jersey Governor Phil Murphy signed Assembly Bill No. S3128/A4694 into law, which implements an aggressive tax treatment of nonresidents who work for New Jersey employers.  The law essentially adopts the...more

Rivkin Radler LLP

New York’s Convenience of the Employer Rule – New Jersey and Connecticut Respond

Rivkin Radler LLP on

History is replete with examples of leaders who chose to battle, or who were forced into defending against, enemies on two fronts. Rarely did it end well for the combatant that occupied the middle ground. In a sense, New...more

Greenbaum, Rowe, Smith & Davis LLP

IRS And New Jersey Extend April 15 Income Tax Deadline To May 17

On March 17, 2021, Internal Revenue Service (IRS) Commissioner Chuck Rettig announced that the IRS will extend by one month the deadline for the filing of tax returns and the payment of tax for the 2020 taxable year for...more

White and Williams LLP

States Clarify Personal Income Tax Treatment Related To PPP Loan Forgiveness

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) and the recently enacted Consolidated Appropriations Act, 2021 (CAA) addressed tax issues related to the forgiveness of a Paycheck Protection Program (PPP)...more

Pillsbury Winthrop Shaw Pittman LLP

Pandemic Work-From-Home Arrangements Have Tax and Employment Law Consequences

Prolonged work-from-home status for employees who live in a different jurisdiction than their assigned office can generate new tax and employment law compliance obligations for employers. Employers with employees who...more

Cole Schotz

New Jersey Is Planning To Raise $390 Million In Fiscal Year 2021 through Tax Hikes On Millionaires

Cole Schotz on

New Jersey Governor Phil Murphy and State Democratic leaders announced yesterday a revised fiscal year 2021 budget that raises the State’s gross income tax rate on income for families now earning between $1 million and $5...more

McCarter & English, LLP

New Jersey Makes Sweeping Changes To Independent Contractor Laws- UPDATED June, 2020

New Jersey Governor Phil Murphy last week signed into law several bills aimed at combating the misclassification of workers as independent contractors rather than as employees. The new enactments expand the authority of the...more

Farrell Fritz, P.C.

Business Resources and Recovery (UPDATED)

Farrell Fritz, P.C. on

Businesses grappling with the economic impact of the ongoing COVID-19 crisis have the opportunity to apply for financial assistance through a variety of Federal, State and Local programs. ...more

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