State Tax Focus - New Jersey
Reed Smith’s State Tax Group has one of the leading New Jersey state tax practices, with more than a dozen lawyers licensed to practice in the state.
We advise clients on corporation business tax, sales and use tax, and various New Jersey gross receipts taxes and fees. Unlike non-lawyer consulting firms, we are able to represent our clients at all appeal levels – from audit through litigation. Not only do we defend clients in connection with audits and assessments, we also conduct income tax and sales and use tax reviews to identify potential refund opportunities. We also advise clients on planning initiatives and the New Jersey tax implications of corporate reorganizations. Our team includes registered New Jersey lobbyists, which enables us to advocate for clients across all branches of government.
Our team has been at the forefront of New Jersey’s switch to combined reporting and market sourcing, which became effective in 2019. When combined reporting was first proposed, a member of our team met with each bill sponsor and testified before the Senate Budget Committee. We have continued to closely monitor the Division of Taxation’s informal policies and have conducted numerous training programs regarding potential taxpayer exposures and opportunities. To provide clients with the most sound and accurate advice, we maintain an extensive library of unpublished rulings and informal guidance.