News & Analysis as of

State Taxes New Jersey

Blank Rome LLP

That’s What I Said, Not What I Meant

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It is estimated that over 80 percent of tax cases settle before a hearing is held. While this is generally a positive result for both taxpayers and Departments of Revenue, sometimes the fine print is overlooked—especially...more

Flaster Greenberg PC

Changes to “Mansion Tax” and “Controlling Interest Transfer Tax” in New Jersey

Flaster Greenberg PC on

Signed into law by Governor Murphy on June 30, 2025 (effective July 10, 2025), New Jersey Bill S4666 made significant changes to New Jersey’s transfer taxes....more

Morgan Lewis

New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

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Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making...more

Fox Rothschild LLP

Sticker Shock at Closing Tables for Dealership Sellers

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Selling an auto dealership in New Jersey just got more expensive — and more complicated. As of July 10, 2025, changes to New Jersey’s so-called “Mansion Tax” have shifted the burden of this transfer tax onto the seller. A...more

Troutman Pepper Locke

New Jersey Increases Mansion Tax Rates and Shifts Payment Obligation to Sellers

Troutman Pepper Locke on

On June 30, Governor Phil Murphy signed Bill A5804 into law, amending N.J.S.A. § 46:15-7.2-7.4; N.J.S.A. § 54:15C-1, and introducing significant changes to New Jersey’s realty transfer tax structure. These changes — effective...more

Cole Schotz

New Jersey’s Latest Budget Has Sweeping Changes to the Mansion Tax

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The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more

Bressler, Amery & Ross, P.C.

New Jersey Modifies Mansion Tax on Sales of Real Property

The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee...more

McCarter & English, LLP

2025 New Jersey Primary Election Results

The 2025 New Jersey Primary Election saw strong voter turnout and marked the most expensive gubernatorial primary in the state’s history. This is the first year both major parties used a new statewide ballot design. The...more

DLA Piper

New Jersey Weighs in on Sales Tax Impact of US Tariffs

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The current US administration has added tariffs to a variety of goods sold by US retailers but imported from foreign sellers. In other cases, foreign retailers subject to tariffs, may sell their products directly to US...more

McCarter & English, LLP

N.J. Appellate Division Affirms Tax Court, Denies Taxpayer’s Statute of Limitations Argument Regarding Responsible Person Tax...

On February 5, 2025, the New Jersey Appellate Division released a decision in the matter of Christopher Gill v. Director (Docket No. A-3116-22), affirming the tax court’s holding that the state is not subject to a separate...more

Husch Blackwell LLP

New Jersey Tax Court Rules Undistributed Foreign Earnings of CFC Are Not Taxable Dividends

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A recent decision by the New Jersey Tax Court held that while taxpayers were required to report undistributed income from “deemed repatriation dividends” on their federal tax returns, they were not required to report that...more

Littler

Watch Out New York – New Jersey Wants Its Taxes Too!

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On July 21, 2023, New Jersey Governor Phil Murphy signed Assembly Bill No. S3128/A4694 into law, which implements an aggressive tax treatment of nonresidents who work for New Jersey employers.  The law essentially adopts the...more

Cozen O'Connor

New Jersey Eliminates S Election as of December 22, 2022

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New Jersey will automatically treat federal S corporations as New Jersey S corporations, effective for periods beginning on or after December 22, 2022. Historically, the New Jersey Division of Revenue and Enterprise...more

Rivkin Radler LLP

New York’s Convenience of the Employer Rule – New Jersey and Connecticut Respond

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History is replete with examples of leaders who chose to battle, or who were forced into defending against, enemies on two fronts. Rarely did it end well for the combatant that occupied the middle ground. In a sense, New...more

Rivkin Radler LLP

NJ Publishes Guidance on Cannabis Sales & Use Tax and Social Equity Excise Fee

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The New Jersey Division of Taxation recently provided guidance on registration and licensing requirements, Social Equity Excise Fees, and the Sales & Use tax applicable to companies operating in the cannabis industry. ...more

Rivkin Radler LLP

Push-Back On New York’s Mission to Tax Non-New Yorkers?

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Last week, Governor Murphy of New Jersey staked out a position on New York City’s congestion pricing proposal, stating that it “can’t be ‘on the backs of New Jersey commuters.’” “Whether it’s how we’re taxed by our...more

Pillsbury - SeeSalt Blog

New Jersey Supreme Court Requires Factual Record in Jersey City Payroll Tax Dispute

The New Jersey Supreme Court upheld a lower court decision that Jersey City’s payroll tax was not a facial violation of the U.S. Constitution but remanded the matter to create a factual record to evaluate an as-applied...more

Greenbaum, Rowe, Smith & Davis LLP

IRS And New Jersey Extend April 15 Income Tax Deadline To May 17

On March 17, 2021, Internal Revenue Service (IRS) Commissioner Chuck Rettig announced that the IRS will extend by one month the deadline for the filing of tax returns and the payment of tax for the 2020 taxable year for...more

McCarter & English, LLP

The Voters Have Spoken: When And How New Jersey Will Give Life To The Cannabis Market

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Horticultural, retail, biotech, pharma, and other companies located in the diverse cannabis industry have long anticipated and increasingly prepared for adult-use legalization in the State of New Jersey. Two formal moves have...more

Farrell Fritz, P.C.

Business Resources and Recovery (UPDATED)

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Businesses grappling with the economic impact of the ongoing COVID-19 crisis have the opportunity to apply for financial assistance through a variety of Federal, State and Local programs. ...more

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