N.J. Admin. Code § 18:7-7.5 - Reserved
Notes
See 26 N.J.R. 761(a), 26 N.J.R. 1696(b).
Amended by R. 2004 d. 367, effective
See 36 N.J.R. 1680(a), 36 N.J.R. 4484(a).
Designated paragraph as (a), added (b).
Amended by R. 2017 d. 123, effective
See 49 N.J.R. 52(b), 49 N.J.R. 1694(a).
In (b), inserted a comma following the second occurrence of "months" and "thereof".
HISTORICAL NOTE:
Laws of 1968, Chapter 250 eliminated the use of the asset factor for the purpose of allocating net worth, effective with respect to privilege periods commencing after December 31, 1968.
STATUTORY REFERENCES:
See Laws 1968, Chapter 250 as to elimination of asset factor for purpose of allocating net worth, effective with respect to privilege periods commencing after December 31, 1968. See N.J.S.A. 54:10A-4(b) as to definition of "allocation factor". See N.J.S.A. 54:10A-6 as to how to determine allocation factor for taxpayer maintaining regular place of business outside New Jersey.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
(a) If the taxpayer had a regular place of business outside New Jersey during the period covered by the return, its tax liability under the New Jersey Corporation Business Tax Act is measured by that part of its entire net income allocated to New Jersey according to a formula called the business allocation factor .
(b) If the taxpayer is deemed to be a "part year allocating" taxpayer because it had a regular place of business outside New Jersey for less than 50 percent of the period of time covered by the return, it will determine its overall business allocation factor by prorating the overall business allocation factor computed by the number of months, or part thereof, that a regular place of business was maintained and adding this to 100 percent prorated by the number of months, or part thereof, a regular place of business was not maintained.
Example: Corporation X establishes its only regular place of business outside New Jersey on November 16 of its 12 month calendar year. The overall business
62. 2424 x 2) + (100 x 10)
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12
Notes
See 26 N.J.R. 761(a), 26 N.J.R. 1696(b).
Amended by R. 2004 d. 367, effective
See 36 N.J.R. 1680(a), 36 N.J.R. 4484(a).
Designated paragraph as (a), added (b).
Amended by R. 2017 d. 123, effective
See 49 N.J.R. 52(b), 49 N.J.R. 1694(a).
In (b), inserted a comma following the second occurrence of "months" and "thereof".
HISTORICAL NOTE:
Laws of 1968, Chapter 250 eliminated the use of the asset factor for the purpose of allocating net worth, effective with respect to privilege periods commencing after December 31, 1968.
STATUTORY REFERENCES:
See Laws 1968, Chapter 250 as to elimination of asset factor for purpose of allocating net worth, effective with respect to privilege periods commencing after December 31, 1968. See N.J.S.A. 54:10A-4(b) as to definition of "