Budget & Taxes (Business Taxes)

in committee · New Jersey · General Assembly Jan 13, 2026

A 860: Temporarily lowers corporation business tax rate for five years and repeals corporation business surtax.

Bill A 860 temporarily lowers New Jersey's corporate tax rate from 9% to 7.5% for five tax years (starting in 2027) and repeals the separate 2.5% corporation business surtax. It directly affects most corporations and partnerships with annual net income under $100,000, reducing their tax burden by eliminating the surtax and lowering the base rate. The bill applies to tax years beginning January 1, 2027, through 2031, and is pending before the Assembly Commerce Committee. This is a concrete tax rate change, not a procedural measure, affecting business tax obligations.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces corporate tax rates and repeals surtax, creating tax breaks for businesses, aligning with 'oppose' indicators of tax cuts for entities.90% confidence

Sub-Topics Business Taxes

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in committee · New Jersey · General Assembly Jan 13, 2026

A 821: Allows corporation business tax credit for subcontracting work to NJ small businesses.

This bill creates a 1% tax credit for New Jersey corporations that pay small New Jersey businesses for subcontracted work performed within the state. A "small business" is defined as a New Jersey entity with fewer than 50 employees that is not affiliated with the paying corporation. The credit applies to payments made for work the corporation subcontracts to fulfill its own contracted duties, but cannot exceed 50% of the corporation’s tax liability or reduce the tax below the statutory minimum. The credit applies to privilege periods beginning after the bill’s enactment.

Topics ✗ Budget & TaxesOpposes Budget & TaxesTax credit reduces corporate tax liability, weakening state revenue without direct public service funding.90% confidence

Sub-Topics Business Taxes Tax Credits Tags Small Business

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in committee · New Jersey · General Assembly Jan 13, 2026

A 3006: Establishes net operating loss carryback deduction under corporation business tax.

This New Jersey bill (A 3006) would allow corporations to carry back net operating losses to previous tax years, enabling them to claim refunds for taxes paid in those earlier years. It directly affects corporations subject to New Jersey's Corporation Business Tax that have incurred losses, particularly those that might otherwise see reduced tax liability or refunds. The key mechanism establishes a formal "net operating loss carryback deduction" under the state tax code, letting businesses offset prior-year tax payments with current-year losses. The bill is currently pending in the Assembly Commerce and Economic Development Committee (introduced January 13, 2026) and would change how corporations apply tax losses under state law.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill enables corporate tax refunds via net operating loss carryback, reducing state revenue and weakening fiscal management.90% confidence

Sub-Topics Business Taxes

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in committee · New Jersey · General Assembly Jan 13, 2026

A 533: Eliminates Treasurer's authority to annually adjust petroleum products gross receipts tax.

This bill removes the State Treasurer's authority to annually adjust the tax rates on petroleum products based on changing fuel prices. It freezes the tax rates at levels determined by 2016 data, eliminating future quarterly or annual adjustments tied to average retail fuel prices. This directly affects petroleum companies that pay the tax on gasoline, diesel, and other fuels, as their tax burden will no longer automatically change with market prices. The bill ensures tax rates remain fixed at the 2016 benchmark, preventing future adjustments by the Treasurer.

Topics ✗ Budget & TaxesOpposes Budget & TaxesFreezes tax rates, eliminating annual adjustments tied to fuel prices, reducing potential state revenue and limiting fiscal management flexibility.95% confidence

Sub-Topics Business Taxes

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in committee · New Jersey · General Assembly Jan 13, 2026

A 168: Exempts fuel used for operation of certain school buses from petroleum products gross receipts tax and motor fuel tax; clarifies tax treatment of certain dyed fuel thereunder; clarifies determination of taxable estates of certain decedents.

This bill exempts fuel used to operate school buses for transporting students to and from school or school activities from two state taxes: the petroleum products gross receipts tax and the motor fuel tax. It specifically applies to school buses operated by public school districts, religious or charitable organizations, or contractors working with government agencies. The bill also clarifies how certain dyed fuel (used for non-highway purposes) is taxed and updates rules for determining taxable estates of some residents. These changes directly affect school districts, nonprofit organizations, and contractors managing student transportation services in New Jersey.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempts school bus fuel from two state taxes, reducing state tax revenue and weakening fiscal collection.90% confidence ✓ EducationSupports EducationExempts school bus fuel from taxes, reducing operational costs for K-12 transportation - a direct funding support for school operations and student access.90% confidence ✓ TransportationSupports TransportationExempts school bus fuel from taxes, reducing operational costs for transportation services used in student transit.95% confidence

Sub-Topics Business Taxes School Transportation Roads & Highways Transportation Funding

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in committee · New Jersey · Senate Jan 13, 2026

S 953: 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.

Topics ✗ Budget & TaxesOpposes Budget & TaxesEliminates minimum tax on S corps, reducing tax revenue and weakening fiscal management.95% confidence

Sub-Topics Business Taxes

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in committee · New Jersey · Senate Jan 13, 2026

S 90: Excludes passenger and freight rail projects from purposes for which revenue from increase in petroleum products gross receipts tax revenue may be used.

This bill amends New Jersey's transportation funding law to specifically exclude passenger and freight rail projects from using revenue generated by increases in the petroleum products gross receipts tax (established by P.L.2016, c.57). It prevents state funds from this tax source from being allocated to any rail-related transportation projects, including passenger rail service or freight rail service. The change directly affects rail project funding by restricting the use of this specific tax revenue stream. The amendment is part of a broader update to the Special Transportation Fund rules, ensuring rail projects cannot access this particular tax revenue.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes rail projects from petroleum tax revenue use, restricting allocation of tax funds to rail, thus limiting fiscal support for rail projects.95% confidence ✗ TransportationOpposes TransportationBill explicitly excludes rail projects from petroleum tax revenue, restricting funding for rail transportation infrastructure and limiting allocation of transportation funds to rail services.95% confidence

Sub-Topics Business Taxes Revenue Freight Rail Transportation Funding

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in committee · New Jersey · Senate Jun 24, 2026

S 711: Eliminates transaction nexus requirement under Sales and Use Tax and Corporation Business Tax.

This bill eliminates a transaction-based requirement for remote sellers and corporations to pay New Jersey sales/use tax and corporate business tax. Currently, sellers must collect tax if they make 200+ separate transactions in New Jersey or exceed $100,000 in revenue. The bill removes the 200-transaction threshold, meaning only the $100,000 revenue rule remains to determine tax obligations. It directly affects out-of-state online retailers and corporations operating in New Jersey without a physical presence. The change applies only to future transactions, not retroactively.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRemoves transaction threshold, reducing state tax revenue from remote sellers, weakening tax collection and fiscal management.92% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New Jersey · Senate Jan 13, 2026

S 2467: Eliminates the corporate transit fee.

This bill repeals a 2.5% surtax (the "Corporate Transit Fee") that applied to certain corporations with over $10 million in New Jersey taxable income during specified periods. It directly affects large corporations paying the Corporation Business Tax (CBT) that met this income threshold, eliminating an additional fee they previously owed. The fee, which was imposed alongside regular CBT payments, funded New Jersey Transit operations and capital projects starting in fiscal year 2026. The repeal takes effect immediately upon enactment, removing this requirement for all future privilege periods.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals corporate tax surcharge, reducing tax revenue and weakening state tax structure for transit funding.95% confidence ✗ TransportationOpposes TransportationBill repeals a fee specifically funding New Jersey Transit operations and capital projects, directly cutting transportation funding for public transit.90% confidence

Sub-Topics Business Taxes

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