New Jersey S 1128: Disallows tax deduction under corporation business tax and gross income tax for punitive damages paid in connection with legal action; includes amount paid as punitive damages on behalf of taxpayer in income for tax purposes.

Status: Introduced in the Senate, Referred to Senate Judiciary Committee (as of 2024-01-09)

State: New Jersey · Session: 221 · Bill: S 1128

Subjects: BUS TAXES, CORPORATIONS, INCOME TAX

Sponsors: McKeon, John F.

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