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New Jersey Basic Business Taxes

Q1 2014
Corporate income tax:
There is no capital stock tax, no unincorporated business tax, no business personal property tax, no commercial rent or occupancy tax (at the state level), and no retail gross receipts tax.

Corporate business tax (franchise):
Corporations are taxed at 9 percent of their entire net income allocated to the state. The tax rate for business corporations with income under $100,000 is 7.5 percent.

Sales and use taxes:
The state imposes a 7 percent tax on sales and use.

Property tax:
Property tax is assessed and collected at the municipal level.

Property tax abatement:
Any municipality may abate property taxes on realty for a new development project. For property tax abatement concerning a rehabilitation, contact the appropriate municipality.

New Jersey State Contact:
New Jersey Business ActionCenter
Trenton, NJ 08625-0820

Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.

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