Search results
24 sty 2020 · New Jersey establishes elective entity tax for pass-through entities. Download the PDF. Entity-level election for pass-through entities. S3246 creates an elective pass-through entity business alternative income tax, which allows pass-through entities to report and pay tax at the entity level.
- Zaloguj sie
New Jersey establishes elective entity tax for pass-through...
- Register for Dbriefs webcasts
Anticipating tomorrow's complex issues and new strategies is...
- Zaloguj sie
On January 18, 2022, Governor Phil Murphy signed into law New Jersey Senate Bill 4068 /Assembly Bill 6110 (S. 4068), which revises significant aspects of New Jersey's elective pass-through entity (PTE) tax, known as the Business Alternative Income Tax (BAIT). 1 S. 4068 revises New Jersey's existing law 2 by: Modifying the tax base for PTEs ...
16 paź 2023 · P.L.2021, c. 419 revises the New Jersey elective pass-through entity business alternative income tax, which was enacted in January 2020. Changes are effective for tax years beginning on and after January 1, 2022.
S3246 establishes a new elective pass-through business alternative income tax (PTE tax) with a corresponding income tax credit for members and applies to taxable years beginning on or after January 1, 2020. This tax alert provides a summary of the New Jersey PTE tax including election procedures and requirements, as well as overview of member ...
20 sty 2020 · On December 14, 2019, the state of New Jersey passed legislation allowing shareholders in pass-through entities to elect to have the entity pay the income tax on their distributive share of income, rather than paying it at the partner level.
12 lut 2020 · New Jersey now allows a pass-through entity with at least one member subject to New Jersey income tax to elect to pay the alternative tax. Pass-throughs include: S corporations; partnerships; or. limited liability companies. In order to pay at the entity level, all members of the entity must agree.
1 gru 2020 · In January 2020, New Jersey passed a law that allows pass-through entities to pay income tax at the entity level. On November 10, 2020, the IRS today issued Notice 2020-75, which announces rules to be included in forthcoming proposed regulations.
