The Combined Reporting Initiative period, originally scheduled to expire on October 15, 2021, is now extended to January 3, 2022.
The Division is in the process of identifying companies that have been included as part of a combined group filing (CBT-100U return) and indicated that they have nexus with New Jersey but have not filed as a separate entity for periods prior to 2019. We will waive penalties for qualified companies that pay back Corporation Business Tax for certain years that they had nexus with New Jersey but failed to file as a separate entity.
Companies that have had nexus with New Jersey prior to filing as part of combined return will have the opportunity to come forward and voluntarily comply with their Corporation Business Tax filing requirements. These companies are not eligible for a standard Voluntary Disclosure Agreement; however, the Division will consider entering into a Closing Agreement with approved companies based upon the following:
Failure to take advantage of this initiative will result in the look-back period going beyond return periods ending after June 30, 2016 and all applicable penalties and interest being assessed.
To take advantage of this opportunity, complete the Combined Reporting Initiative form . Submission information is located at the bottom of the form.
Email questions to the Nexus Audit Group at firstname.lastname@example.org using “Combined Reporting Initiative” as the subject line.