Gradually reduces CBT rate.
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill gradually reduces the corporation business tax (CBT) rate in New Jersey. Specifically, it amends existing law to lower the CBT rate from 9% to 2.5% over several years, with the rate decreasing to 2.5% for privilege periods ending after December 31, 2023. The bill also provides reduced rates for certain types of corporations, including New Jersey S corporations, investment companies, and limited liability companies, and establishes minimum tax requirements.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
10 on record
Primary sponsors
Cosponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours