Tag Archives: Sales Tax

SUPREME COURT RULES ON INTERNET SALES TAX COLLECTION

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…

NJ SALES TAX ON TRANSIENT ACCOMMODATIONS

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…

NEW JERSEY FY 2019 BUDGET – TAX CHANGES

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…

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 Read More…