New Jersey legislation · 2026-2027 Regular Session
New Jersey A5039: Corporation business tax-concerns
Status: In committee, May 11, 2026
Requires combined groups to be determined on world-wide basis under corporation business tax.
What the bill says
An Act mandating world-wide basis determination of combined groups and amending P.L.2018, c.48.
From the introduced text, May 11, 2026:
An Act mandating world-wide basis determination of combined groups and amending P.L.2018, c.48. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Section 18 of P.L.2018, c.48 (C.54:10A-4.6) is amended to read as follows: 18. A taxable member of a combined group shall determine its entire net income from the unitary business as its share of the entire net income of the combined group in accordance with a combined unitary tax return made pursuant to this section and sections 19, 20, and 23 of P.L.2018, c.48 (C.54:10A-4.7, C.54:10A-4.8, and C.54:10A-4.11). The entire net income from the unitary business of a combined group is the sum of the entire net incomes of each taxable member and each nontaxable member of the combined group derived from the unitary business, which shall be determined as follows: a. For a member incorporated in the United States, the income to be included in the entire net income of the combined group shall be the member's entire net income otherwise determined pursuant to the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.). b. (1) For a member not incorporated in the United States, the income to be included in the entire net income of the combined group shall be determined from a profit and loss statement that …
Sponsors
- Katie Brennan (D, 32) · primary sponsor
- Michael Venezia (D, 34) · primary sponsor
- Shama A. Haider (D, 37)
- Ravi S. Bhalla (D, 32)
- Verlina Reynolds-Jackson (D, 15)
- Alixon Collazos-Gill (D, 27)
- Ed Rodriguez (D, 20)
Latest actions
- : INT 1RA REF ACE
Subjects: TAXATION - BUSINESS TAXES, CORPORATIONS
Common questions
- What is A5039?
- A5039 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Corporation business tax-concerns.
- What does A5039 do?
- In its own words: An Act mandating world-wide basis determination of combined groups and amending P.L.2018, c.48.
- What is the status of A5039?
- In committee as of May 11, 2026. Latest action: INT 1RA REF ACE (May 11, 2026).
- Who sponsored A5039?
- Katie Brennan (D, 32), with 6 co-sponsors.
- Where is the official record for A5039?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A5039
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.