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New Jersey Tax Court finds out-of-state corporate limited partner has nexus for CBT purposes

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On Oct. 4, 2017, the New Jersey Tax Court ruled that an out-of-state corporate limited partner had nexus with New Jersey for Corporation Business Tax purposes by virtue of its interests in two partnerships doing business in New Jersey. Specifically, the court found that there was no credible basis to determine that the taxpayer played a distinctly separate role as a passive investor in the partnerships.