New Jersey Tax Division Issues Bulletin on Economic Nexus Standard for Corporation Business Tax

The New Jersey Division of Taxation Sept. 5 issued a revised corporate income tax technical bulletin on nexus for corporation business tax purposes for privilege periods ending on and after July 31. The bulletin provides general guidelines for determining whether the activities of a corporation create nexus with New Jersey for the imposition the corporation business tax. The New Jersey Corporation Business Tax Act requires every domestic or foreign corporation to pay an annual franchise tax for having or exercising its corporate franchise in the state. The bulletin includes information on: 1) corporation business tax nexus; 2) the bright-line economic ...