New Jersey Issues Rules on Taxability of Transient Accommodation Rentals Posted: August 20, 2018 Starting Oct. 1, 2018, rentals of transient accommodations in New Jersey are subject to sales tax, the state occupancy fee and the Meadowlands regional hotel use assessment.
New Jersey Issues Sales Tax Rules for Remote Sellers Posted: August 16, 2018 Consistent with South Dakota v. Wayfair, effective Oct. 1, 2018, a remote seller that makes a retail sale of tangible personal property, specified digital products or services for delivery to a location in New Jersey must register, collect and remit New Jersey sales tax if the remote seller meets one of two criteria.
Recent New Jersey Income Tax Changes Posted: August 13, 2018 Several gross income tax changes were implemented as part of New Jersey's fiscal year 2019 budget. Here's a summary.
IRS Issues Proposed Section 199A Regulations Posted: August 8, 2018 The IRS has issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.
Treasury, IRS Propose Regs on New 100-Percent Depreciation Posted: August 3, 2018 The Treasury Department and the IRS have issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service.
IRS Issues Guidance on Small Business Accounting Method Changes Under TCJA Posted: August 3, 2018 The IRS has issued guidance on new tax law changes that allow small business taxpayers with average annual gross receipts of $25 million or less in the prior three-year period to use the cash method of accounting.
New Jersey Taxes — They Are a-Changing… Posted: July 25, 2018 New Jersey's 2018/19 budget includes a host of business tax changes. Here's a summary of some of the major changes broken down by category.
NJCPA Bylaws Changes Approved by Members Posted: July 2, 2018 The proposed revisions to the NJCPA bylaws were recently approved by the membership.
New Jersey Enacts Legislation Establishing a Shared Responsibility Tax Posted: July 2, 2018 On May 31, 2018, Governor Murphy signed into law the “New Jersey Health Insurance Market Preservation Act,” which establishes a “shared responsibility tax” for New Jersey residents who do not have health insurance.
Expired New Jersey UEZs Have Been Reinstated Posted: May 31, 2018 Legislation to reinstate until Dec. 31, 2023, each urban enterprise zone that has expired — Bridgeton, Camden, Newark, Plainfield and Trenton — and require a report on the effectiveness of the program has been signed into law.