New Jersey A5227 imposes a temporary surtax on certain tariff refunds to fund consumer price relief.

New Jersey A5227 imposes a temporary surtax on corporation business taxpayers receiving certain tariff refunds. The surtax is set at 90 percent of the apportioned tariff refund for privilege periods starting after January 1, 2026, but before January 1, 2031. The surtax is in addition to the corporation business tax and no credits are allowed against the surtax liability. The revenues from the surtax are dedicated to the "New Jersey Consumer Tariff Relief Fund" for grants to small businesses, rebates to low- and moderate-income households, and enforcement of consumer protection laws.

New Jersey A5227 imposes a temporary surtax on certain tariff refunds to fund consumer price relief.

New Jersey A5227 imposes a temporary surtax on corporation business taxpayers receiving certain tariff refunds. The surtax is set at 90 percent of the apportioned tariff refund for privilege periods starting after January 1, 2026, but before January 1, 2031. The surtax is in addition to the corporation business tax and no credits are allowed against the surtax liability. The revenues from the surtax are dedicated to the "New Jersey Consumer Tariff Relief Fund" for grants to small businesses, rebates to low- and moderate-income households, and enforcement of consumer protection laws.