New Jersey Groups Call on Legislature to Adopt Combined Reporting

From State Tax Today, May 10, 2016: (subscription required)

Adopting combined reporting in New Jersey would level the playing field for small businesses and generate millions of dollars for the state, according to a May 4 letter sent to state lawmakers from 37 organizations.

“This letter sends a strong message to New Jersey’s lawmakers: The time to close corporate loopholes is now,” New Jersey Policy Perspective (NJPP) Deputy Director Jon Whiten said in a May 4 press release about the letter, which his organization co-signed.

The letter says that enacting combined reporting could “raise an additional $290 million a year to invest in schools, roads, and other building blocks of a strong economy.”

A bill to implement mandatory combined reporting in the state was introduced in the Senate in February but has yet to receive a vote.