On September 14, 2011, Governor Christie signed into law A-2748. The new law exempts individuals, estates and trusts from bulk sales notification requirements that would otherwise apply to the purchasers of one- and two-family residential and certain seasonal rental properties. Corporations, partnerships and LLC’s involved in the purchase of one- and two-family residential and seasonal rental properties are still subject to bulk sales requirements.
Beginning September 15, 2010, the New Jersey Division of Taxation will initiate a private letter ruling procedure. The new procedure will allow taxpayers to obtain a written determination from the Regulatory Services Branch of the Division. The private rulings will be based on the law and Division policies in effect as of the date of the letter ruling or for a period of time specified in the ruling request.
The New Jersey Department of Labor and Workforce Development ("LWD") will be offering amnesty to employers subject to the New Jersey Unemployment Compensation and Temporary Disability laws. The amnesty offer covers unemployment, disability; workforce, healthcare, and family leave insurance contributions due from the first quarter of 2005 through the fourth quarter of 2009.
