New Jersey Governor Supports Repeal of Throwout and Regular Place of Business Requirement, Extension of Loss Carryovers to 20 Years, & a Switch to Single Sales Factor

more+
less-

In an address to a joint session of the New Jersey Legislature on October 16, 2008, New Jersey?s Governor Jon S. Corzine announced his support for the repeal of both the throwout and regular place of business provisions, as well as an extension of the net operating loss carryover period to 20 years and a switch to a single sales factor for apportionment. These initiatives are part of his plan to provide ?statewide long-term economic growth options to coax the state out of the current national economic recession.?[1] Further, although no specific legislation has been proposed, the Governor has expressed his desire to move towards unitary combined reporting.

See full update for more.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Written by:

more+
less-

Morrison & Foerster LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×