New Jersey Tax Division Releases Draft Corporate Income Tax Form 2023 CBT-100, Instructions

The New Jersey Division of Taxation Sept. 1 released a draft of Form 2023 CBT-100, New Jersey Corporation Business Tax Return and Instructions for tax years ending on or after July 31, 2023, through June 30, 2024. The draft instructions include: 1) all taxpayers and tax preparers must file the return and make payments electronically; 2) corporations deriving receipts from sources in the state will be deemed to have bright-line economic nexus if those receipts exceed $100,000 or it has more than 200 state transactions during a tax year beginning after July 31; 3) banking corporations must file the form ...