Judge Rules On Tax Due Based Upon Nonadmitted, Reinsurance Reform Act

Mealey's (July 3, 2018, 3:12 PM EDT) -- TRENTON, N.J. — Examining the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA), a New Jersey tax judge on June 15 found that Johnson & Johnson’s (J&J) insurance premium tax due is based on all premiums for risks located within the United States, and not solely on an allocation of risks within New Jersey (Johnson & Johnson v. Director, Division of Taxation and Commissioner, Department of Banking and Insurance, No. 013502-2016, N.J. Tax, 2018 N.J. Tax LEXIS 10)....

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