New Jersey Provides Clarification on CBT Changes and Corrections

 – January 25, 2021
New Jersey Provides Clarification on CBT Changes and Corrections Legislation signed on Nov. 4, 2020, made a series of technical corrections, clarifications and changes to the Corporation Business Tax Act. The New Jersey Division of Taxation has issued the following technical bulletins to provide updates:
  • TB-100: The Combined Group as a Taxpayer under the Corporation Business Tax Act (Jan. 25, 2021)
  • TB-99: Income Reporting and Returns for Banking Corporations for Privilege Periods Ending on and after July 31, 2020 (Jan. 14, 2021)
  • TB-98: Federal Return and the Forms and Schedules to Include with the Corporation Business Tax Return Pursuant to P.L. 2020, C. 118 (Jan. 13, 2021)
  • TB-89 (R): Combined Group Filing Methods - revised to include information from P.L. 2020, C. 118 (Jan. 13, 2021)
  • TB-97 Changes and Corrections to the Corporation Business Tax and Other Taxes/Fees Pursuant to P.L. 2020, C. 118 (Dec. 14, 2020)