The Tax Court of New Jersey recently issued an important order that may have eviscerated the impact of the Throw Out Rule on intangibles holding companies. On its face the order does not appear to address the application of the Throw Out Rule to traditional operating businesses, however the “bottom line” of the order should be applicable to all businesses.
New Jersey Tax Court Issues Important Order on the State’s Throw Out Rule
By Arthur R. Rosen and McDermott Will & Emery on September 9, 2013
