New Jersey A3193 eliminates the $375 minimum Corporation Business Tax on S corporations with less than $100,000 in New Jersey gross receipts.

New Jersey A3193 eliminates the $375 minimum Corporation Business Tax (CBT) on S corporations with New Jersey gross receipts of less than $100,000. This bill aims to alleviate the rigid application of the CBT minimum tax on New Jersey's smallest grossing S corporations, allowing them to free up potentially duplicative tax payments for more productive investment in the economy. The bill applies to privilege periods beginning on and after the date of enactment.

New Jersey A3193 eliminates the $375 minimum Corporation Business Tax on S corporations with less than $100,000 in New Jersey gross receipts.

New Jersey A3193 eliminates the $375 minimum Corporation Business Tax (CBT) on S corporations with New Jersey gross receipts of less than $100,000. This bill aims to alleviate the rigid application of the CBT minimum tax on New Jersey's smallest grossing S corporations, allowing them to free up potentially duplicative tax payments for more productive investment in the economy. The bill applies to privilege periods beginning on and after the date of enactment.