Get NJ CBT-100S 2018

For taxpayers with Entire Net Income greater than $100,000, the tax rate is 9% (.09) on adjusted entire net income or such portion thereof as may be allocable to New Jersey.

The rate is 7.5% for all corporations with entire net income of $100,000 or less. The rate is 6.5% for all corporations with entire net income of $50,000 or less.

Businesses earning more than $1 million will also now pay a higher corporate tax rate for the next four years. For the first two years (starting retroactive to January 1, 2018) they will be taxed at 11.5 percent, and at 10.5 percent for the remaining two years, up from the 9 percent current rate.

New Jersey has a single, statewide sales tax rate. On January 1, 2018 that rate decreased from 6.875% to 6.625%.

Franchise taxes are generally either a flat fee or an amount based on a business's net worth. New Jersey taxes corporate income through its corporation business tax (CBT), but the state does not have any franchise or privilege tax generally applicable to businesses.

The Petroleum Products Gross Receipts Tax imposes a 2.75% tax on the gross receipts from the first sale of petroleum products in New Jersey.11 With respect to fuel oils, aviation fuels, and motor fuels, the rate is converted to $0.04 per gallon.

To calculate the sales tax that is included in a company's receipts, divide the total amount received (for the items that are subject to sales tax) by "1 + the sales tax rate". In other words, if the sales tax rate is 6%, divide the sales taxable receipts by 1.06.

A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is similar to a sales tax, but it is levied on the seller of goods or service consumers.

For reporting purposes, you almost always exclude sales tax from the gross receipts amount. ... If you collect state and local sales taxes imposed on you as the seller of goods or services from the buyer, you must include the amount collected in gross receipts.

Only five states, Delaware, Nevada, Ohio, Texas, and Washington, have statewide gross receipts tax (see map below).

For earnings between $40,001 and $75,000, the tax rate on every dollar of income earned is 5.525%. For earnings between $75,001 and $500,000, the tax rate on every dollar of income earned is 6.37%. For earnings of $500,001 and over, the tax rate on every dollar of income earned is 8.97%.

Beginning January 1, 2019, the withholding rate on income over five million dollars is 11.8 percent.

New Jersey has a single, statewide sales tax rate. On January 1, 2018 that rate decreased from 6.875% to 6.625%.

New Jersey Gross Income Tax The withholding tax rates for 2019 reflect graduated rates from 1.5% to 11.8%. The 11.8% tax rate applies to individuals with taxable income over $5,000,000.

You must attach a copy of your Federal extension to your New Jersey tax return when it's filed. If you do not have a Federal tax extension, you can request a New Jersey extension using Form NJ-630 (Application for Extension of Time to File New Jersey Gross Income Tax Return).