The New Jersey Department of Revenue released a notice regarding New Jersey’s treatment of deemed repatriation dividends reported pursuant to Section 965 (added to the Code by the TCJA). For New Jersey corporation business tax purposes, the deemed repatriation dividends will be excluded from entire net income, as provided in the Corporation Business Tax Act (N.J.S.A. 54:10A-4(k)(5)) (Act). If a corporation does not meet the ownership thresholds, the deemed repatriation dividends will be included in entire net income to the extent provided in the Act. For New Jersey gross income tax purposes, dividends are an enumerated category of income. Thus, deemed repatriation dividends reported under Section 965 must be included in New Jersey gross income in the same tax year and in the same amount as reported for federal purposes.