New Jersey S4204 mandates combined groups to be determined on a worldwide basis under the Corporation Business Tax Act.

New Jersey S4204 amends the Corporation Business Tax Act to require combined groups to be determined on a worldwide basis. This change affects how combined groups, which are groups of business entities engaged in a unitary business, calculate their taxable income. The bill specifies that for privilege periods beginning on or after July 31, 2026, combined groups must include all business entities, both domestic and foreign, that are engaged in the unitary business.

New Jersey S4204 mandates combined groups to be determined on a worldwide basis under the Corporation Business Tax Act.

New Jersey S4204 amends the Corporation Business Tax Act to require combined groups to be determined on a worldwide basis. This change affects how combined groups, which are groups of business entities engaged in a unitary business, calculate their taxable income. The bill specifies that for privilege periods beginning on or after July 31, 2026, combined groups must include all business entities, both domestic and foreign, that are engaged in the unitary business.