New Jersey A5039 requires combined groups to be determined on a worldwide basis under the corporation business tax.

New Jersey A5039 amends the Corporation Business Tax Act to change how combined groups are determined for tax purposes. Under the bill, combined groups must be determined on a worldwide basis, meaning they must include all business entities, both domestic and foreign, that are engaged in the unitary business. This change takes effect for privilege periods beginning on or after July 31, 2026. The bill also modifies rules for net operating loss carryovers and tax credits among members of a combined group.

New Jersey A5039 requires combined groups to be determined on a worldwide basis under the corporation business tax.

New Jersey A5039 amends the Corporation Business Tax Act to change how combined groups are determined for tax purposes. Under the bill, combined groups must be determined on a worldwide basis, meaning they must include all business entities, both domestic and foreign, that are engaged in the unitary business. This change takes effect for privilege periods beginning on or after July 31, 2026. The bill also modifies rules for net operating loss carryovers and tax credits among members of a combined group.