Tax – State Income – SimonCPA, PC

NJ Nexus and Covid-19

To address nexus issues during the coronavirus pandemic, New Jersey has implemented numerous temporary rules surrounding when a business is deemed to be doing business in NJ. Click on the link below for more info.

NJCPA Article – Nexus and Other COVID-Related New Jersey Tax Issues

NJ Business Alternative Income Tax (BAIT)

Effective for tax years beginning on or after 1/1/2020, NJ Pass-Through Businesses can elect to pay tax due on the owner’s share of distributive proceeds. Click on the links below for more info.

NJ Division of Taxation Main BAIT page

NJ Division of Taxation BAIT FAQs

NJ Division of Taxation BAIT Forms

NJCPA Article