Overview
Alysse McLoughlin said a New Jersey Tax Court Decision affirming the tax filing obligations of out-of-state intangibles holding companies “really highlights the need for coordination at the taxpayer level concerning returns that are being filed by related companies … If you don’t file for a company that has economic nexus, you might end up getting whipsawed — you could have a statute of limitations run on an in-state company that wasn’t able to deduct something, and New Jersey could still come in and try to tax the out-of-state company on the same income.”