New Jersey may apply its corporation business tax notwithstanding a taxpayer’s lack of a physical presence in the state, according to the New Jersey Supreme Court. In a per curiam decision with national significance, the state high court held that the U.S. Supreme Court’s holding in Quill Corp. v. North Dakota, 504 U.S. 298 (1992) should be limited to the area of sales and use tax nexus.
The Lanco decision expands NJ claims that every business must pay NJ Tax!
see: http://www.TaxEsq.com
