New Jersey Division of Taxation Revises Nexus Rules for Corporate Business Tax

The New Jersey Division of Taxation issued a technical bulletin, establishing Corporation Business Tax nexus requirements for privilege periods ending on and after July 31, 2023, implementing the bright-line economic nexus standard enacted by P.L. 2023, c.96. The bulletin establishes that foreign corporations have nexus if they derive $100,000 or more in receipts from New Jersey sources or engage in 200 or more separate transactions with New Jersey customers during their fiscal or calendar year, in addition to traditional nexus factors such as maintaining offices, holding licenses, or employing capital in the state. Key provisions include mandatory use of the ...