New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 7 - CORPORATION BUSINESS TAX ACT
Subchapter 1 - CORPORATIONS SUBJECT TO TAX UNDER THE ACT
Section 18:7-1.7 - Domestic corporations subject to tax
Universal Citation: NJ Admin Code 18:7-1.7
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The tax is imposed on every domestic corporation, with specified exceptions, for the mere possession of the privilege of having its corporate franchise.
(b) A domestic corporation not otherwise exempt is subject to tax for every fiscal or calendar accounting period, or part thereof, whether it does business, owns capital or property, maintains an office, or engages in any activity, whether within or outside New Jersey.
(c) A domestic corporation is subject to tax even though it carries on its business entirely outside New Jersey.
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