New Jersey Governor Signs Law Concerning Business Dissolution, Reinstatement Processes, Revising Business Filing Fees

The New Jersey Governor June 30 signed a law concerning business dissolution and reinstatement processes for corporate income tax purposes. The law includes measures: 1) providing a limited period for dissolution or reinstatement of revoked or inactive business charters using an expedited process; 2) allowing for the payment of a reduced administrative fee; 3) revising certain business filing fees; 4) providing that a reinstatement filed two or more years after a limited liability company has been placed on the inactive list shall require a tax clearance certificate; and 5) making technical changes. The law took effect June 30. [/NJ\FINAL\2018R1A5607///