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 18:7-5.8 - Calculation of gain in certain instances
Universal Citation: NJ Admin Code 18:7-5.8
Current through Register Vol. 56, No. 18, September 16, 2024
(a) A selling parent corporation in an I.R.C. § 338(h)(10) transaction does not recognize gain on the sale of target stock for New Jersey purposes for acquisition dates occurring on or after January 14, 1992.
(b) Where a target corporation recognizes gain as the result of an I.R.C. § 338(h)(10) election, the target reports and pays tax on such gain pursuant to N.J.A.C. 18:7-5.1(a).
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