New Jersey Tax Division Releases Bulletin on Out-of-State Income Tax Credit

The New Jersey Division of Taxation released a bulletin regarding the out-of-state income tax credit for business and non-wage income. This bulletin outlines how to determine which types of income can be included in the credit calculation, the eligibility criteria for claiming the credit for taxes paid to another jurisdiction, and the method for calculating the credit amount. [N.J. Div. of Taxation, Gross Income Tax Bulletin 3B, 01/31/26]
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