Budget & Taxes (Sales 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.

This bill repeals a $100,000 limit on sales tax exemptions for businesses in New Jersey's Urban Enterprise Zone (UEZ) program. It directly affects certified UEZ businesses (those with UZ-4 certification) by allowing them to claim full tax exemptions on all costs for property improvements, such as building repairs or renovations, without the previous $100,000 cap. The exemption applies retroactively to all qualifying property improvements made on or after January 1, 2022. This change simplifies access to tax savings for businesses seeking to upgrade their facilities within designated UEZ areas.