CPA Practice
MAY 10, 2023
New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. It means cannabis businesses will be treated like non-cannabis businesses … the way it should be.”
CPA Practice
MAY 23, 2023
Meanwhile, state Senate President Nick Scutari , D-Union, said he is also working on that proposal — and left open the possibility of paying for it by extending a corporate business tax surcharge that Gov. New Jersey is home to the nation’s highest property taxes, with the average bill hitting a record $9,490 in 2022.
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Withum
AUGUST 3, 2023
On July 3, 2023, New Jersey enacted comprehensive tax legislation (A5323) that will likely impact every business in one shape or another. This includes investment management companies, such as investment advisors, hedge fund managers, mutual fund service providers, broker-dealers, and similar financial service businesses.
Withum
JULY 12, 2023
New Jersey Gov. Phil Murphy signed into law A5323 on July 3, 2023, which includes wide-ranging provisions that will considerably impact businesses. The implementation of MBS may affect pass-through owners who reside in low or no-income tax states. Now, such strategies may need to be rethought.
CPA Practice
OCTOBER 18, 2023
One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.
CPA Practice
FEBRUARY 6, 2024
We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap. Income tax rate fluctuations States are facing a very uncertain and non-uniform fiscal environment at the moment, affording some, but by no means all, states the ability to reduce state income tax rates.
Shay CPA
MAY 1, 2024
All the way back in 2012, a remote worker/taxable nexus case went before the New Jersey Superior Court. Director, New Jersey Division of Taxation , the decision validated that an out-of-state employer could be subject to New Jersey’s corporation business tax because just one remote worker resided and worked within state lines.
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