New Jersey S2596 provides a sales tax credit and holiday for small businesses during the COVID-19 state of emergency.

New Jersey S2596 establishes a sales tax credit and sales tax holiday for small businesses during the COVID-19 state of emergency. A small business is defined as an independently owned and operated business with fewer than 100 employees. The sales tax credit is equal to the small business’s quarterly remittance for the first calendar quarter of 2020, minus the amount dedicated to property tax reform. If a small business has made monthly or quarterly payments or filed its quarterly return, it would receive a refund from the State.

New Jersey S2596 provides a sales tax credit and holiday for small businesses during the COVID-19 state of emergency.

New Jersey S2596 establishes a sales tax credit and sales tax holiday for small businesses during the COVID-19 state of emergency. A small business is defined as an independently owned and operated business with fewer than 100 employees. The sales tax credit is equal to the small business’s quarterly remittance for the first calendar quarter of 2020, minus the amount dedicated to property tax reform. If a small business has made monthly or quarterly payments or filed its quarterly return, it would receive a refund from the State.