News & Analysis as of

Tax Liability New Jersey

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

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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

Fox Rothschild LLP

Real Estate Sellers Face Increased Burden Under New Jersey’s Amended 'Mansion Tax'

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New Jersey has increased its so-called "mansion tax" and shifted the party who must pay the fee from the buyer to the seller. The tax has a substantial impact on owners of New Jersey real estate, but despite its expansive...more

DLA Piper

New Jersey Weighs in on Sales Tax Impact of US Tariffs

DLA Piper on

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

Husch Blackwell LLP

New Jersey Proposes Rules Incorporating Parts of MTC's Public Law 86-272 Guidelines

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Public Law 86-272 (P.L. 86-272) was first adopted by the U.S. Congress in 1959 to address the business concerns of tax implications from traveling salesmen working in multiple states. To address these concerns, Congress used...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

Cole Schotz

The 2025 Tax Appeal Review

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Continued pressures created by elevated levels of mortgage interest rates, vacancies, as well as stricter lending policies, point to higher capitalization rates, lower property values and tax appeal opportunities in 2025....more

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Local Property Taxation Update: An Overview of Material Depreciation in Value Post-Valuation Date

What You Need to Know - •New Jersey property owners should be aware of the statutory framework, related deadlines, and application of those deadlines within the context of the valuation of property for local taxation...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

Farrell Fritz, P.C.

Business Resources and Recovery (UPDATED)

Farrell Fritz, P.C. on

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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