(This article was originally published by Law360 on March 18, 2019.)
When challenging a state tax assessment outside the tax agency that issued the assessment, taxpayers face a variety of obstacles. One is the presumption of correctness that often attaches to a tax agency’s determination. Judicial deference to a tax agency’s interpretation of a tax statute or regulation makes the taxpayer’s task even more difficult.
On November 16, Carley Roberts and Marc Simonetti present “Federal Tax Changes Rocking the SALT Landscape” during Tax Executives Institute’s New Jersey All-Day Seminar.
On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency.
On August 31, 2010, the New Jersey Tax Court issued a memorandum decision in Beneficial New Jersey, Inc. v. Director, Division of Taxation,1 concluding that the taxpayer satisfied one of the enumerated exceptions to the interest addback statute under N.J.S.A. 54:10A-4(k)(2)(I), and was thus entitled to its interest expense deductions.
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