New Jersey Tax News

Right before the New Year, Governor Murphy signed an NFIB-supported pro-taxpayer bill into law. A-4295/S-2876 (Jaffer, Mosquera, Swain/Singleton) makes three tax administrative changes that were sought by the Division of Taxation. It removes taxpayer inequity caused by the COVID state of emergency, streamlines the S-corporation tax filing process, and adapts federal partnership audit changes.