A1301 — Prohibits business expense deductions for punitive damages paid in civil litigation under the corporation business tax and gross income tax.

A1301 — Prohibits business expense deductions for punitive damages paid in civil litigation under the corporation business tax and gross income tax. · Informed CitizenryThis bill prohibits business taxpayers from deducting punitive damages paid in civil litigation from their New Jersey gross income tax and corporation business tax. The legislation specifies that p…Open in Informed Citizenry