New Jersey Business Taxes and the Throwout Rule

Levin, Mark H.
April 2009
CPA Journal;Apr2009, Vol. 79 Issue 4, p50
Academic Journal
The article discusses the impact of the throwout rule on business taxes in New Jersey. The throwout rule was enacted in the Business Tax Reform Act of 2002. Under the throwout rule, when apportioning income within and New Jersey, receipts sourced to another state, the District of Columbia, a U.S. territory or possession, or a foreign country in which the taxpayer is not subject to tax on its income must be excluded from the denominator of the receipts factor.


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