New Jersey Lawyers Blog
The Corporation Business Tax (“CBT”) is a New Jersey State tax imposed on corporations for the privilege of doing business in the State. Nearly every state has instituted a similar type of tax on businesses, sometimes including taxes referred to as franchise taxes or privilege taxes. This tax is income-based and is measured by the net income which may be allocated to New Jersey. CBTs go towards general State use, with 4 percent of the CBT revenue dedicated to environmental projects and activities.
The following entities are exempt from CBT: corporations created under the limited-dividend housing corporation law, nonprofit cemetery corporations, nonprofit corporations without capital stock, federal corporations exempt from state taxes, certain agricultural cooperative associations, non-stock mutual housing corporations, canal and railroad corporations, water and sewer corporations, insurance companies subject to premiums tax, and certain municipal electric corporations.
A corporation may be either a “C” Corporation or a“S” Corporation. Generally, a corporation chooses its election of classification when it is being formed. A “C” corporation is subject to what is commonly referred to as “double taxation” because a C corporation’s revenue is taxed first as company revenue and then again when the shareholders are taxed for the revenue. However, there are also certain tax advantages including being able to deduct certain business expenses. On the other hand a “S” corporation is only taxed at the individual level, commonly referred to as a “pass-through” tax entity. The owners of the company are the only ones taxed for profit of the company. “S” corporation owners may be able to deduct corporate losses on personal tax returns. There are also a myriad of considerations in addition to tax factors which should be considered before making the determination as to what type of company to form.
The Supreme Court of the United States has recently issued an 
New Jersey’s employment laws governing the rights and responsibilities of New Jersey teachers are found in Title 18A of New Jersey Statutes. The laws are complex, but our 
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New Jersey’s Department of Education has issued regulations which govern “controversies and disputes” with public employees such teachers and principals. The “controversies and disputes” cover a wide variety of issues including but not limited to the State Board of Examiner’s (“Board’s”) decision to block, revoke, or suspend a teacher’s certificate.
Lawsuits can settle immediately after a complaint is filed or several years into the litigation process on the eve of trial, or even during the course of a trial. Most cases will settle before a final resolution is determined by a judge or jury. Settlements generally offer a more favorable resolution than trial for several reasons: (1) both parties avoid the risk of loss at trial, (2) both parties avoid the considerable costs, time, and efforts involved in further litigation and trial, and (3) both parties avoid protracted appeals.
Since there is no will to probate, your nearest living relative who is willing to do so will need to be appointed as administrator of your estate by the surrogate’s court.