On 3 July 2023, the governor of the U.S. State of New Jersey signed Assembly Bill (AB) 5323, which contains various tax measures. One of the main measures concerns substantial nexus. Since 1 November 2018, an out-of-state business (remote seller) has been considered to have substantial nexus in New Jersey for sales tax purposes if gross revenue from sales exceeds USD 100,000 in a year or separate sales transactions are at least 200 in a year. AB 5323 introduces a new section to provide that similar thresholds apply in determining substantial nexus for corporation business (franchise) tax purposes. Where either...