N.J. Admin. Code § 18:7-5.8

Current through Register Vol. 56, No. 11, June 3, 2024

Section 18:7-5.8 - Calculation of gain in certain instances

(a) A selling parent corporation in an I.R.C. § 338(h)(10) transaction does not recognize gain on the sale of target stock for New Jersey purposes for acquisition dates occurring on or after January 14, 1992.

(b) Where a target corporation recognizes gain as the result of an I.R.C. § 338(h)(10) election, the target reports and pays tax on such gain pursuant to N.J.A.C. 18:7-5.1(a).

N.J. Admin. Code § 18:7-5.8

Amended by 49 N.J.R. 1694(a), effective 6/19/2017