The New Jersey Division of Taxation plans to issue final regulations implementing the state’s recently enacted corporate business tax reforms by the end of 2024, outgoing director John Ficara said Wednesday.
The division plans to publish an advance notice of proposed rules during the first quarter of 2024 implementing A5323/S3737, the first comprehensive adjustment to the New Jersey business tax code since 2018. The proposed rules will kick off a comment period open to taxpayers and other interested parties, followed by possible revisions by the division, Ficara said.
“Assuming the regulatory process moves smoothly, our cautiously optimistic expectation ...
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