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New Jersey Gets 22 Companies for New Tax Dispute Settlement Plan

Sept. 21, 2022, 7:46 PM

Twenty-two companies that may have engaged in questionable intercompany transactions to lower their New Jersey tax obligations have registered for a voluntary program to resolve disputes with the state, according to a spokeswoman for the state Treasury Department.

The new program, which opened in June, allows companies that had intercompany pricing issues on previous tax returns to enter settlement negotiations with the Division of Taxation by Sept. 15. It’s designed to give taxpayers an opportunity to clear up lingering tax avoidance strategies involving transfer pricing, a method for valuing related-company transactions.

Indiana, Louisiana, and North Carolina also have voluntary ...