March 23, 2009

By: Jisha V. Dymond

Reminder: Chapter 271 Annual Disclosure Form Due March 30, 2009

Businesses with government contracts in New Jersey are subject to an annual disclosure requirement, which is due one week from today.  Here are a few things to keep in mind:
  • Only “reportable” contributions need to be disclosed. A “reportable” contribution is one in excess of $300 in the aggregate per election to candidate committees and political committees; and $300 in the aggregate per calendar year to political party committees, legislative leadership committees, and continuing political committees.
  • The $50,000 threshold relating to the receipt of government contracts is in the aggregate. This means that if your business received 5 government contracts worth $10,000 each (from the same or different governmental entities), you must file a report.

Tag: New Jersey