In a 5-4 ruling the Supreme Court issued their decision opening the door for states and localities to collect sales tax on interstate purchases made on the internet. This decision overturns the long-standing decision in Quill, issued by the Supreme Court in 1992, requiring a physical presence test be met by sellers in the jurisdiction Read More…
Effective October 1, 2018, New Jersey sales and use tax will be imposed on “transient accommodations”. Transient accommodations include a room, a group of rooms, or other living /sleeping space for the lodging of occupants, which can include residential buildings. The following situations do not constitute a transient accommodation: • Places of assembly • Health Read More…
Governor Murphy and the NJ Legislature have agreed to a $37.4 billion budget for FYE 2019, thereby averting a government shutdown. Tax highlights of the budget bill include: Individual income tax provisions Increase the limit on deductions for property tax from $10,000 to $15,000. Increase the earned income credit from 35% to 40% of the Read More…
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 Read More…
As of January 1, 2017, the following five NJ urban enterprise zones (UEZ) will expire. This means that if you have a for-profit business client in the following UEZ’s: Bridgeton Camden Newark Plainfield Trenton The business will no longer be able to collect NJ sales tax at a 50% reduced rate and you will no Read More…
Cash strapped states are always looking for methods of changing the tax laws, which will create more sales tax revenue. As a result, states are trying to make more and more transactions subject to their sales tax. Businesses must become more aware of sales and use tax regulations, both within the state that their business Read More…
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