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.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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