For your New Jersey and New York, find the following income tax rules. Place your data in a

chart, and e$-$mail your findings to your instructor.

a$.$ To what extent does each state follow the rulings of the Multistate Tax Commission?

b$.$ Does the state adopt pertinent changes to the Internal Revenue Code? If so$,$ as of what

date?

c$.$ What is the highest income tax rate for corporations?

d$.$ Is the tax effectiveness of a passive investment company limited in some way? Has the

state adopted the Geoffrey approach $($see footnote $20,$ p$.16-31)$ to the taxation of

income from intangibles? Explain.

e$.$ Does the state apply entity$-$level income taxes for S corporations, partnerships, and

LLCs$?$ If so$,$ what are the terms of those taxes?