1/1/18 NJ SALES & USE TAX DECREASE

Reminder:

New Jersey Sales and Use Tax rate will decrease from 6.875% to 6.625% effective January 1, 2018.  If your business collects sales tax, or you are required to pay use tax, you will need to update your point of sale and accounting systems to reflect the new rate.  This reduction is the second phase that was enacted in 2016 to offset the gas tax increase.

Additional information is available at the New Jersey Division of Taxation website here  http://www.state.nj.us/treasury/taxation/ratechange/su-overview.shtml.

Read more tax tidbits here.

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