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What kind of tax deductions can you use in a small business in New Jersey?

April 26, 2017NEW JERSEY small business tax deductions

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What kind of tax deductions can you use in a small business in New Jersey?

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It is important to remember that NJ minimum corporate tax is now based on gross sales, so even if a corporation has a loss there may still be up to $2K owed. For sole proprietorships and flow-through entities, NJ does not allow losses to be claimed in the NJ personal income tax return.