Does anyone know if New Jersey taxes out of state corporations?

Discussion in 'Taxes and Accounting' started by invortex, Nov 17, 2019.

  1. invortex


    If a C corp is registered out of state, and I live in New Jersey, what taxes would I have to pay for that corp in NJ? ( the corporation has short term and long term capital gains taxes trading stocks). I live part time in NJ and part time in the other state. Thanks
  2. newwurldmn


    My guess is nothing in NJ as a c-Corp is its own person. My c-corps only pay taxes in the states they do business in - where the owner lives doesn’t matter.
  3. Sig


    You have to register as a foreign corp and pay taxes using an apportionment factor based on sales with a throw out rule. Apportionment and throw out rules are pretty complicated, you really need a CPA to figure out your liability if you are new to the subject (sounds like you are). Without knowing your situation I'd say you're going to be partially liable for corporate taxes in NJ. By the way, you do realize there's no such thing as the concept of long and short term capital gains for purposes of C-corp taxes? Seriously, you need to hire a CPA before contemplating this, preferably one like Green Trader Tax that specializes in trading tax law.
    invortex and elt894 like this.