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New Jersey’s ability to impose corporate income tax is limited, partner: appellate court renders decision exempting certain limited partners from the corporation business tax
  • Pepper Hamilton LLP
  • USA
  • September 30 2011

The New Jersey Division of Taxation was just dealt a severe judicial setback in its ability to impose tax on passive corporate limited partners whose only connection to the state was an investment in a limited partnership doing business in the state.

Taxpayer’s addback exception upheld
  • Eversheds Sutherland (US) LLP
  • USA
  • September 13 2010

On August 31, 2010, the New Jersey Tax Court upheld a taxpayer's "unreasonable exception" from the New Jersey related party addback statute.

New Jersey Tax Court decides in favor of taxpayer in first interest addback case
  • Pillsbury
  • USA
  • September 7 2010

On August 31, 2010, the New Jersey Tax Court issued a memorandum decision in Beneficial New Jersey, Inc. v. Director, Division of Taxation, concluding that the taxpayer satisfied one of the enumerated exceptions to the interest addback statute under N.J.S.A. 54:10A-4(k)(2)(I), and was thus entitled to its interest expense deductions.

Carley A. Roberts
  • Eversheds Sutherland (US) LLP