S.2467

Eliminates the corporate transit fee for CBT taxpayers with income over $10 million.

New Jersey S2467 eliminates the Corporate Transit Fee, a 2.5% surtax on certain corporation business tax (CBT) taxpayers with New Jersey allocated taxable net income over $10 million. The bill repeals the fee for privilege periods starting after its enactment. The fee was previously imposed to support New Jersey Transit's operating expenses and federal funding for capital projects.