A1577 — Consolidates all categories of gross income for cross-claiming of net losses and allows 20 year loss carryforward under the New Jersey gross income tax; repeals alternate business income calculation.

A1577 — Consolidates all categories of gross income for cross-claiming of net losses and allows 20 year loss carryforward under the New Jersey gross income tax; repeals alternate business income calculation. · Informed CitizenryThis bill amends New Jersey law to consolidate all categories of gross income for the purpose of claiming net losses. Under the current law, losses in one category of gross income cannot be applied…Open in Informed Citizenry