A5771 — Eliminates requirement that taxpayer that qualifies as S corporation for federal tax purposes affirmatively elect New Jersey S corporation status for purposes of corporation business and gross income taxes.

A5771 — Eliminates requirement that taxpayer that qualifies as S corporation for federal tax purposes affirmatively elect New Jersey S corporation status for purposes of corporation business and gross income taxes. · Informed CitizenryThis bill amends New Jersey law to eliminate the requirement that a taxpayer who qualifies as an S corporation for federal tax purposes must also affirmatively elect New Jersey S corporation status…Open in Informed Citizenry