Eliminates minimum corporation business tax on New Jersey S corporations.

This bill eliminates the minimum tax requirement for New Jersey S corporations. It removes the "alternative minimum assessment" that previously applied to these entities, meaning they will no longer be subject to a baseline tax payment regardless of their income level. The change specifically targets S corporations (pass-through entities where profits are taxed at the shareholder level), which are currently subject to this minimum tax under Section 5 of New Jersey's corporation business tax code. The bill amends the tax code to explicitly state that no minimum tax will apply to S corporations, investment companies, or certain professional or cooperative entities. This is a direct policy change affecting small to mid-sized New Jersey S corporations by reducing their tax burden.