Requires combined groups to be determined on world-wide basis under corporation business tax.

This bill requires corporations in New Jersey to calculate their combined group tax liability based on worldwide income rather than just domestic earnings. It directly affects businesses that operate as combined groups, including those with foreign subsidiaries or partnerships, by mandating how their global profits are reported and taxed. The legislation updates existing tax laws to ensure that income from foreign branches is converted to U.S. dollars and adjusted for federal tax differences, while also clarifying how partnership income is included in the group's total. Additionally, it establishes specific rules for excluding certain treaty-based income and defines how limited partners in investment partnerships are treated within the combined group structure.