A 3419
Eliminates transaction nexus requirement under Sales and Use Tax and Corporation Business Tax.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill eliminates the requirement for remote sellers to have a certain level of sales volume or number of transactions to be subject to New Jersey’s Sales and Use Tax. Similarly, it removes the transactional nexus requirement for corporations to be taxed under the Corporation Business Tax. Under the revised law, a seller would only need to meet a revenue threshold of $100,000 to be subject to sales tax, and a corporation would only be subject to the CBT if it derives over $100,000 in receipts from within the state. This change aims to simplify tax compliance for businesses operating remotely.
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