Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.
Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.
Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.
Allows exclusion of certain small business income from taxation under gross income tax and corporation business tax.
Permits deduction of 20 percent for qualified business income for certain individuals as owners of pass-through entities under gross income tax and corporation business tax.
Eliminates requirement that taxpayer that qualifies as S corporation for federal tax purposes affirmatively elect New Jersey S corporation status for purposes of corporation business and gross income taxes.
Provides corporation business tax and gross income tax credits for businesses that employ formerly incarcerated individuals.
Provides corporation business tax and gross income tax credits for businesses that employ formerly incarcerated individuals.
Business Corporation Tax--definition Of Corporate Net Income
Income taxation: credits: exclusions: federal conformity.