New Jersey Appeals Court upholds limited partner's lack of nexus

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The Superior Court, Appellate Division of New Jersey upheld a state tax court decision that a foreign corporation was not subject to the corporation business tax (CBT) because it simply held a passive interest in a limited partnership, was not unitary with the partnership, and was not otherwise doing business in the state. [BIS LP, Inc. v. Division of Taxation, N.J. Superior Ct., Appellate Division, Docket No. A-1172-09T2, 8/23/11]



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