Compliance Note No. 8: Corporate Gift Policies

With the holiday season upon us, corporate gift policies should be reviewed with key personnel to maintain compliance with state and federal rules. For almost all New Jersey government officials and state employees, gifts are forbidden. Under New Jersey law, any business, its executives, or representatives have a very low threshold for providing and reporting gifts, or what the law defines as “benefit passing,” and public disclosure is required. Businesses should be aware of these rules and the potential consequences a gift, or of the appearance a gift, may have on a business. For additional information on the best practices for compliance with business interactions with government officials and employees during the holiday season contact Stephanie Olivo.