In a last-minute deal to avert a government shutdown, New Jersey Governor Phil Murphy and the New Jersey Legislature cobbled together a budget with numerous amendments to New Jersey’s tax law.
View the full legal alert.
by Robert Desiderio *
Although there is some measure of conformity with the federal corporate income tax base, every state's statute makes its measure of tax corporate income different from the federal base. Typically, there are additions and subtractions...
Congress has resurrected a prior Stimulus Act proposal allowing most taxpayers, not just small businesses, to extend the NOL carryback period under section 172 for up to five years for 2008 and 2009 NOLs. However, the extended carryback election is only...
Introduction, Notice 2010-50
The Internal Revenue Service (IRS) released Notice 2010-50 on June 11, 2010, which provides guidance on fluctuations in value between different classes of corporate stock when measuring owner shifts for Section 382 purposes...