Temporarily lowers corporation business tax rate for five years and repeals corporation business surtax.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill temporarily reduces the corporate business tax rate in New Jersey from nine percent to 7.5 percent for five years and eliminates the existing corporation business surtax. The changes are designed to encourage economic development and job creation by lessening the tax burden on businesses. The bill also modifies existing legislation to implement these changes.
Bill text
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