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Legal Update

A New Jersey Jughandle—New Legislation Brings Combined Reporting, a 95% DRD and Market-Based Sourcing to the Garden State

3 July 2018
Mayer Brown Legal Update
Two weeks ago, we provided a Legal Update on the then-current version of the New Jersey budget legislation. Crumple that up and throw it away, as the enacted legislation, P.L. 2018, c. 48 (the “Act”), is different from that earlier version. At first blush, many aspects of the Act look a lot like those enacted by New Jersey’s neighbor to the north (New York), but, on closer inspection, looks are quite deceiving. This Legal Update discusses aspects of the Act that have significant implications to virtually all Corporate Business Tax taxpayers and separate legislation establishing a tax amnesty period.


  • Leah Robinson
    T +1 212 506 2799
  • Amy Nogid
    T +1 212 506 2174
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