New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 7 - CORPORATION BUSINESS TAX ACT
Subchapter 5 - ENTIRE NET INCOME; DEFINITION, COMPONENTS AND RULES FOR COMPUTING
Section 18:7-5.6 - Adjustment of entire net income to period covered by return; how computed
Universal Citation: NJ Admin Code 18:7-5.6
Current through Register Vol. 56, No. 18, September 16, 2024
(a) If the entire net income required to be reported is for a period other than a period covered by the taxpayer's Federal income tax return, the taxpayer shall compute its net income as follows:
1. Its Federal taxable
income is first adjusted in the manner set forth on
18:7-5.1 through 5.4;
2. The result is then divided by the number of
calendar months or parts thereof covered by the Federal income tax return;
3. The result is then multiplied by the number of
the calendar months or parts thereof covered by the return under the Corporation
Business Tax Act. A part of a month shall be deemed to be a month.
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